On Friday, Morgan Stanley on Friday revealed its top stock pick in the IT Hardware space, Apple. Morgan Stanley cited an attractive set-up ahead of the company’s upcoming earnings call after market close on April 30th.
Mike Peterson for AppleInsider:
In a research note to investors seen by AppleInsider, Morgan Stanley analyst Katy Huberty said she expects Apple to provide better-than-expected revenue guidance for the June quarter.
That assessment is based on several factors, including a normalizing of factory activity in China where production of the company’s iPhones appear to be outpacing estimates. Huberty is now forecasting 41 million units produced during the current June quarter, roughly 25% higher than her original 33 million unit estimate. Combined with a strong balance sheet and stabilizing expectations of a 5G iPhone later in the year, Huberty named Apple her top pick amongst the IT Hardware companies Morgan Stanley tracks as part of the group.
MacDailyNews Note: Huberty also expects Apple to raise its buyback authorization by “at least” $75 billion and increase its dividend by a mid-to-high single-digit.
Apple is slated to release Q220 results after market close on Thursday, April 30, 2020. We’ll have them for you as always right around 1:30pm PDT / 4:30pm EDT. Apple’s conference call to discuss Q220 results is scheduled to start right after that at 2:00pm PDT / 5:00pm EDT. We’ll cover the conference call with live notes as usual, too. Just check our home page around 1:45pm PDT / 4:45pm EDT on Thursday, April 30, 2020 for that link.
Seems strange hearing Apple referred to as “IT Hardware.” Apple seems more like consumer electronics.
IT Hardware?! Do these analysts even understand what they’re talking about? Wouldn’t IT hardware mostly consist of mainframes or servers and not personal devices? No wonder these people don’t understand or know how to value Apple.