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Fly News Breaks for February 2, 2018
Feb 2, 2018 | 05:14 EDT
Citi analyst Jim Suva added Apple to his firm's U.S. Focus List following last night's Q1 earnings report. The analyst keeps a Buy rating on the shares with a $200 price target. Sentiment on Apple stock in the past few weeks swung "too far negative," Suva tells investors in a research note. The analyst believes a "very large" stock buyback is likely to occur. Assuming 50% of the $163B is used for stock buybacks, the company's shares outstanding would be reduced by 10%, the analyst points out. He believes this is a "very material positive that investors should be mindful of and not be underweight the stock as this provides strong valuation support."
News For AAPL From the Last 2 Days
May 13, 2021 | 07:20 EDT
Bernstein analyst Toni Sacconaghi notes that the Apple iPhone 12 appears to be a strong cycle, with revenues increasing by 34% in the first half of 2021, and the analyst forecasting iPhone revenues will grow 35% for the full year on 17% unit growth. On many levels, the iPhone 12 cycle looks similar to the iPhone 6 cycle and iPhone X cycles - each introduced a compelling new offering, and enjoyed strong unit growth, high ASP growth, and outsized growth in China/APAC, he contends, adding that the iPhone 6 and 12 cycles also experienced strong gross margin improvement. However, Sacconaghi worries about what happened historically following these strong cycles. In the one year following the iPhone 6 and X cycles, iPhone ASPs declined, iPhone revenues declined double digits, and product gross margins declined notably, he points out. The analyst also highlights that Apple's stock also fared poorly, with a peak to trough drop of 32% following the 6 cycle and a 39% peak-to-trough drop following the iPhone X cycle.
May 13, 2021 | 06:10 EDT
Top Apple engineer Antonio Garcia Martinez has left the company after employees objected to misogynistic and racist past statements, The Verge's Zoe Schiffer reports. "We are deeply concerned about the recent hiring of Antonio Garcia Martinez," employees wrote in a petition calling for an investigation into his hiring, adding that "His misogynistic statements in his autobiography... directly oppose Apple's commitment to Inclusion & Diversity." In a statement emailed to The Verge, an Apple spokesperson said: "At Apple, we have always strived to create an inclusive, welcoming workplace where everyone is respected and accepted. Behavior that demeans or discriminates against people for who they are has no place here." Reference Link
May 12, 2021 | 08:55 EDT
Tuesday's total option volume of 38.7 million contracts resulted in net open interest growth of 4.77 million calls and 3.75 million puts. Apple (AAPL), Tesla (TSLA), Advanced Micro (AMD) and AMC Entertainment (AMC) saw the greatest growth. Top five new positions opened include 27k AT&T (T) May-21 32.5 calls, 19k Halliburton (HAL) Jun-21 25 calls, 18k Disney (DIS) Jun-21 185 calls, 18k Disney (DIS) Jun-21 185 puts and 17k Sunrun (RUN) Jun-21 50 calls.