“Apple is in a good position with its iPhone 7 now but eventually it must rely less on iPhones,” Scott Gamm reports for TheStreet. “‘”They need to eventually come out with something outside of the iPhone,’ said Angelo Zino, an equity analyst at CFRA Research. ‘But when we look at the company today and over the next two years, we continue to think they are well positioned with the current iPhone 7 launch as well as the next generation device amid the 10-year anniversary of the iPhone next year.”‘
“Zino said services, such as Apple Music and its App Store, will help the technology giant diversify its revenue streams,” Gamm reports. “‘The problem is that services only represent about 13% of their revenue, but it’s growing pretty quickly,’ Zino said.”
Gamm reports, “In a note Tuesday, TheStreet‘s Jim Cramer, whose Action Alerts PLUS portfolio includes Apple, and co-manager Jack Mohr said they were ‘encouraged'” by the ‘explosive growth’ in Services.”
Read more in the full article here.
MacDailyNews Take: Apple must do this. Apple needs to to that. How did Apple ever survive without the assured prescience of analysts like Angelo Zino with his 40% success rate (read: 60% failure rate) and -17.9% average return per recommendation?