After Apple’s blowout earnings, the Street looks toward ‘iPhone X’ and President Trump’s tax reforms

“Apple shares took a huge leap on Wednesday, a day after the tech giant reported strong demand for the iPhone 7 Plus as well as Mac growth in its first quarter earnings,” Berkeley Lovelace Jr. reports for CNBC. “The iPhone maker reported earnings and revenue that easily beat Wall Street’s projections, but gave future guidance on the lower end of expectations.”

“Though some analysts were put off by the weak guidance, the market is apparently looking past that. Instead, analysts looked toward the much anticipated September release of the iPhone 8 — the 10th anniversary of the release of the iconic device — which is expected to be a significant upgrade,” Lovelace Jr. reports. “Analysts were also assured by Apple CEO Tim Cook’s positive tone around tax reform under President Donald Trump.”

“JPMorgan reiterated its ‘overweight’ rating on Apple and raised its December 2017 price target to $142,” Lovelace Jr. reports. “Oppenheimer said it expects Apple shares to perform well over the next two quarters. ‘CEO, Tim Cook, sounded positive on possible tax repatriation (91 percent of $238 billion cash balance is overseas as of F4Q16),’ Oppenheimer said.”

Read more in the full article here.

MacDailyNews Take: With Apple, Wall Street is like a brain-damaged puppy. Instead of two hundred words, it only knows two: “iPhone” and “taxes.”

But, there’s sooo much more!

Oh, well, c’est la vie; same as it ever was.


    1. You are correct sir! Why the Democrats sat on making this important change underlines one of the reasons why they are suffering today, and probably the foreseeable future.

    2. You are correct about the tax rate. The article states a couple of obvious points about Apple, but it and the analysts that it quotes ignores the sharp upward trend in Apple’s services business.

  1. A quick search of “Obama” on MDN and you never see him referred to as “President Obama” a quick search of “Trump” and it’s “President Trump” every time.

    1. Yeah, I’ve noticed that too. For MDN it is pretty consistently “Obama…” and “President Trump…”, a subtle, but irksome, distinction. The times we live in, I guess–or maybe just the sites we [increasingly less frequently] visit.

    2. Dear Conspiracy Theorist,

      When Obama became president in 2008, MacDailyNews was still using their old content management system (ExpressionEngine), which I know for a fact had a character limit for headlines. Therefore, space was at a premium in headlines. Not until MDN switched to WordPress in late 2011, could they write longer headlines. Perhaps they’d simply become used to writing “Obama” in headlines. With a new president and the ability to write long headlines, perhaps MDN is now doing so by referring to Trump along with his title.

      Also, last but not least, you’ll note that there were frequent uses of “President Obama” in the text of hundreds of articles (no length limitations in the article text with either CMS) and, yes, even uses of “President Obama” in shorter MDN headlines, including these examples:

      U.S. President Obama conducts demo on Apple MacBook Pro (with video)

      U.S. President Obama confirmed Apple iPad owner

      U.S. President Obama confirmed Apple iPad owner (with photo)

      Mitt Romney: Does President Obama think Steve Jobs didn’t build Apple?

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