“2015 has been less than stellar for shares of Apple,” Julie Verhage reports for Bloomberg. “The stock opened 2015 around $111 and is currently trading near $115 despite hitting an all time high of $134 earlier this year. That swift 15 percent decline is one of the steepest the stock has ever seen.”
“Morgan Stanley analysts Katy Huberty, Jerry Liu, and Elizabeth Elliott address some of the most prevalent investor concerns in their note that was sent out this morning,” Verhage reports. “They also say point blank that they view this as a place to buy.”
We are buyers on any related weakness as we see an upward bias to our iPhone unit and gross margin assumptions… We do not view the current set-up as similar to 2012 given 1) gross margins are improving (not deteriorating) as we head into the next iPhone cycle, 2) low institutional ownership, 3) competitive product line-up / stickier ecosystem against Android handsets, and 4) more robust product / services roadmap. — Morgan Stanley analysts Katy Huberty, Jerry Liu, and Elizabeth Elliott
Read more in the full article here.
MacDailyNews Take: Time to put the brakes on already? Enough with the faux “concern” so soon? Sheesh, we were hoping for $110, at least.
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