Deutsche Bank analyst Jeriel Ong last night initiated coverage of Apple with a Hold rating and $205 price target. The stock closed yesterday down 58c to $197.87. The analyst sees potential for 2019 iPhone cycle "lull" ahead of 5G iPhones in 2020. And while other hardware is transitioning to growth, namely Watch and AirPods, "this is more of the slow-and-steady variety," Ong tells investors in a research note. Further, Apple's Services business "increasingly faces a law of large numbers dynamic," adds the analyst. Taken together, Ong sees a "balance reward profile relative to the risks" with respect to Apple shares.
Netflix (NFLX) is scheduled to report results of its second fiscal quarter after market close on July 17, with a conference call scheduled for 6:00 pm ET. What to watch:... To see the rest of the story go to thefly.com. See Story Here
Spotify (SPOT) shares are falling in afternoon trading after Bloomberg's Lucas Shaw and Mark Gurman reported that Apple (AAPL) plans to fund original, exclusive podcasts to increase competition with Spotify and Stitcher. Apple executives have reached out to media companies to discuss buying exclusive rights to podcasts, the report added. In afternoon trading following the report, Spotify shares have dipped 2% to $151.03.