“Apple’s free cash flow is ‘mind-blowing’ and can push shares of the tech giant to $150, Barclays analyst Ben Reitzes told CNBC on Tuesday,” Michelle Fox reports for CNBC.
“In the last quarter, that free cash flow per share beat the Street by about 40 percent, he said,” Fox reports. “‘Free cash flow is what, in my training, pushes stocks and really moves it. That’s what you get to reinvest in the business, buy other companies and ultimately return cash to shareholders,’ Reitzes said in an interview with ‘Squawk Alley.'”
“He anticipates the free cash flow, which he said was overlooked by many in the last earnings report, will hit people on a delay, especially into a big stock buyback program,” Fox reports. “He also believes CEO Tim Cook and chief financial officer Luca Maestri have come of age in the past year. ‘[They] really show they care about the stock in addition to products,’ he said. ‘They are shepherding a story now better than they ever have.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “David E.” for the heads up.]