“Drexel Hamilton analyst Brian White said their preliminary Apple sales monitor shows the company had their strongest June ever,” StreetInsider reports.
White highlighted:
• As of this morning, nearly all of the companies in our Apple Monitor have reported June sales that beat historical seasonality, delivering the strongest June that we have on record.
• We believe the recent sell-off in Apple represents yet another buying opportunity as investors turn their focus to the iPhone 8 this fall, along with the company’s raised capital distribution initiative, depressed valuation and new innovations. We continue to believe Apple remains among the most underappreciated stocks in the world.
Read more in the full article here.
MacDailyNews Take: Boom!
Betcha there were a lot of iPads – from $329 starter iPads on up to the new 10.5- and 12.9-inch iPad Pros – purchased by lucky users in June.
I waited to try to get a hold of a Gold 10.5 iPad Pro 512Gb 4G + WiFi from B&H (for that lovely sales tax free experience) but supply is constrained on some color models so bought the Space Grey one which I am totally good with, using a cover anyway. And I LOVE grey! Arrives Monday – very stoked. Replacing at last a 5 year old glacially slow iPad 3. Looked at the larger iPad Pro but it’s much too big for my porpoises. 10.5 is in the Goldilocks Zone – just right.
I ordered the new 10.5 for my mom, and it is an absolute work of art. You will love it.
Boom? There were a number of articles claiming iPhone demand remains soft due to consumer anticipation of iPhone 8 or X or whatever. I don’t think any of these reports can be trusted for any type of accuracy. People are just making things up to suit a targeted set of big investors and none of it will be good for Apple shareholders.
Besides, Brian White is always extremely bullish about Apple and his price targets are never reached. He says Apple remains underappreciated while most of WS says Apple is overvalued. What he says carries little weight as the majority against Apple always wins. The FANG stocks will continue to outperform Apple by a wide margin.
It’s not at all unusual to read reports about poor sales during most of the quarter and then just before the results are declared, we get loads of stories about how amazingly well sales have been doing after all.
It’s also commonplace to wait until just a few days before the financial results and then declare that Apple will have sold a truly amazing amount of stuff and then when Apple comfortably exceeds it’s guidance, but does not match the figures dreamt up by those analysts, it’s declared to be a fail by Apple which prompts a sell off of AAPL.
Many analysts earn money when people trade, therefore it’s a profitable business for them if the market is made to be volatile.
I saw this report suggesting “flat” sales for the quarter and predicting “trouble”: http://www.marketwatch.com/story/iphone-sales-pause-and-apple-may-be-in-trouble-2017-05-02 Every analyst has an opinion but AAPL is definitely undervalued.
The thing is, APPLE is DOMINATING. You can get out your magnifying glass if you want to, and make little micro-points here or there…I suppose if you are a day trader that makes sense…but the culture (ghost) of Steve Jobs is still kicking everyone’s ass and will continue to do so for some time. Hopefully the USA doesn’t implode in the meantime..
Another GREAT milestone for the amazing Tim Cook and co.!