“Wall Street has regained an appetite for Apple as investors bet that the release of a 10th-anniversary iPhone and pent up customer demand will shore up shrinking sales,” Noel Randewich reports for Reuters. “Apple’s 15-percent rally since mid-November pushed the stock to levels not seen in more than a year and boosted over 100 mutual funds that became shareholders in recent quarters.”
“Many on Wall Street expect Apple, which reports its fiscal first-quarter results on Tuesday, to mark the 10th anniversary of the iPhone this year with a dramatically improved model,” Randewich reports. “‘We think this is going to be a pretty solid launch, a really big one,’ said Brian Hennessey, portfolio manager of the Alpine Dynamic Dividend Fund, whose largest holding is Apple. ‘I think even the bears would probably suggest that this product that’s coming out is going to be pretty interesting and hard to ignore.'”
“Strong sales of the iPhone 6S [sic] [recte iPhone 6 and iPhone 6 Plus] two years ago have arguably left a larger-than-normal base of customers now ready to upgrade to new devices in what several analysts have describe as a ‘supercyle,'” Randewich reports. “After three consecutive quarters of declines, Apple in the December-quarter is expected by analysts to report a 2-percent increase in revenue to $77.4 billion, according to Thomson Reuters data. Revenue for fiscal 2017 is expected by analysts to grow 5.5 percent, recovering some of last year’s 7.7 percent decline.”
Read more in the full article here.
MacDailyNews Take: On tap for next Tuesday:
All-time quarterly record earnings.
We’ll bring you Apple’s holiday quarter (fiscal Q117) results next Tuesday right around 4:30pm Eastern. Also, as usual, we plan to cover Apple’s Q117 conference call at 5pm ET on Tuesday, January 31st with live notes. That link will appear on our home page around 4:45pm EDT earnings day.
SEE ALSO:
Apple iPhone to return to growth next week, ending 9-month slump – January 26, 2017
What to expect from Apple’s Q117 earnings call next Tuesday – January 26, 2017
Apple to release Q117 earnings, webcast live conference call on January 31st – January 18, 2017
Damn, those analysts, again. Won’t they ever learn?
Apple is still a company with products and a CEO that many former customers would rather avoid.
An iPhone without a headphone jack. A netbook with one port. A stupidwatch. Bands for the watch marked up 1000%. Macs that haven’t been updated in years that miraculously sell for the same price they sold for years ago. A sh*tty ATV with an even sh*ttier remote. A Macbook Pro that’s stripped down, cannot be upgraded, and doesn’t work out the box with accessories you already own, unless you pay the greedy CEO hundreds more. A music service that lacks features that free services offer. A CEO that has botched every product launch but managed to show up on time for every gay parade over the last 6-years.
Invest in this company if you dare.
Hey Anti-Matter………….
Keep that up and we will out you!!
I don’t play the ponies at all, but if it’s Wall Street expecting the surge, should I not short Apple for when the Street’s attention span wanes?
Live by the sword, die by the sword!
In God we trust analysts. Amen. 🙂
The same people who devalue Apple stock are the same people who devalue Apple stock. Some people can’t understand that simple reality. Those that don’t understand curse them one day and applaud them the next. Anyone care to explain?
Apple’s 15-percent rally since mid-November…
Gee, what changed around that time, I wonder?
😉
MAGA
What changed? The meaning of the words “fact” and “truth.” They now mean whatever you want to believe.
Fwhatever, I am sincerely interested in what the content of your politicrap posts will take when we hit a downturn during the Trump Administration. My expectations are one of the following:
1) You will ignore the bad stuff and try to focus attention elsewhere (the “squirrel!” defense)
2) You will blame Obama or “libtards,” in general based on real or imagined past or present actions or statements
3) You will spin, twist, or simply create information to support whatever viewpoint you have on the subject, or link to the same type of information from a known far right source.
We know you, Fwhatever, Blame is always something that applies to the other person.
It will be interesting to watch the star vote evolve in this area. It is instructive to note how many followers Fwhatever has on this forum.
Stock will tank after the earnings report.