“Today brings an excellent example of how any two parties on Wall Street can scrutinize Apple and come away with very different conclusions about its outlook,” Tiernan Ray reports for Barron’s. “The question is what to make of Apple’s increase of 31% in revenue from services in the fiscal Q2 that ended in March—an increase that some are describing as “explosive” because it was so much higher than it had been historically.”
“The dueling analysts today are Macquarie Research’s Benjamin Schachter, a bull, who rates the stock at Outperform, with a $197 price target, and Instinet’s Jeffrey Kvaal, a bear, who rates Apple at Neutral, with a $175 price target,” Ray reports. “Both authors note the 31% jump in revenue, to $9.19 billion, was a surprise. They differ over whether it’s sustainable.”
Read more in the full article here.
MacDailyNews Take: When the bear predicts “a return to 25% growth in FY19” noting that “it may come sooner,” you know there are nothing but good times ahead!
As always, AAPL remains horribly undervalued.
[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]