With Apple stock, Wall Street is already thinking post-coronavirus

The COVID-19 pandemic hurt Apple’s fiscal Q2 sales and earnings and is expected to do the same in the current quarter, but Wall Street analysts already are thinking post-coronavirus when it comes to Apple stock.

Apple stock COVID-19. Image: Apple logoPatrick Seitz for Investor’s Business Daily:

Wedbush Securities analyst Daniel Ives on Tuesday raised his 12-month price target on Apple stock to 350 from 335. He also reiterated his outperform rating. ves described the company’s upcoming iPhone 12 series as “the light at the end of the tunnel for Apple.” when it comes to the tech giant’s post-coronavirus life. Those handsets will include Apple’s first 5G iPhones. They are due out in September at the earliest but should be ready before the holiday shopping season.

Elsewhere on Wall Street, UBS analyst Timothy Arcuri reiterated his buy rating on Apple stock with a price target of $325. “Though initial view that spend on Apple products is more discretionary and could be impacted in a downturn is somewhat valid, we believe there is pent-up demand as purchase intent has improved and consumers have more discretionary spend available (fewer vacations, dining out, etc.),” Arcuri said in a note to clients.

MacDailyNews Take: Even before we get past COVID-19, 5G iPhones and Services bode well for Apple and Apple’s stock price.

14 Comments

  1. Unfortunately the COVID-19 development in the US is not looking great. I think what we have seen in the last days on the stock market is a “dead cat bounce”. The stock market is likely to take another hit because of COVID-19 before it can really recover. I’m confident in Apple to be one of the leading stocks rising from this *#@! virus.

  2. I agree, we might have another setback..a divided country as usual..the US economy may have a massive collapse, which should make a lot of people happy.

  3. Boy. China really got us. First they release this virus. Then they send our healthcare workers counterfeit masks. And some here in the US think they are friends. They are the enemy. Never forget.

  4. I do understand people want to get back to work to make money but they need to be made aware that they’re taking a risk without any medicine to help them recover from the virus or a vaccine to prevent them from getting infected. I will continue to wear N95 masks and social-distancing as I’m a senior citizen. I will try to patronize some food places just to give them business. It’s upsetting to see people struggling to survive this pandemic. There are people in our government who seem to take this virus lightly because there haven’t been enough deaths to make the virus seem dangerous enough. Instead of just 82,000 people being killed, I suppose 250,000 to 500,000 people would have to die to make those people in the government scared.

    Anyway, I’m hoping there won’t be a second wave like what happened with the 1918 Spanish Flu. Everyone relaxed after the first wave and the second wave was the real killer. There’s very little I can do except take my own precautions and hope to survive until a viable vaccine is created.

    1. The problem with our Gov’t is Trump and his nincompoops. Mitch is an old goat that doesn’t give a shit about suffering Americans. Trump only cares about himself. Meanwhile the lunatics are running the asylum. All the while Americans keep needlessly dying. Thanks to all the idiots that voted this inhuman shitbag into office.

      1. It’s even worse than that. Using covid19 as a cover, Moscow Mitch is pushing an amendment to the Patriot Act renewal bill to expand FBI surveillance powers without warrants.

        Spin this, GOP trolls.

        1. The real problem in the USA is capitalist loons like CitizenX. He’s a real friend of Donald Trump, he keeps telling us about his relationship with him and Tim, CitizenX egged this guy on and he should be ashamed.

      1. Yes, but many years after it would have been useful. The 1918 outbreak was proven to be an avian flu related to the H1N1 strains. After the first few waves subsequent mutations were less virulent. But only after 20+ million people died. Depending on how you counted, that is. Adding the deaths due to complications of other diseases acquired after Spanish Flu took an estimated 50 million people. As we all know, there have been recurring outbreaks for decades.

        Today health services may be more knowledgeable and widely available, but there isn’t enough test data to guide a decisive response. That is why everyone was advised to self quarantine. Worse, political leaders around the world are more interested in their re-election campaigns than accelerating international cooperation to fight the virus. In the USA, test kits are not available in anywhere near the quantity needed. Thus nobody knows where the 1 or 2 or 3% of old weak disposable people will die off, but that’s exactly what the flat footed responsible officials have delivered. The usual trumpists will tell you that this is an acceptable number of deaths. What they don’t ever admit is that they are preventable. But they follow an idiot who tours hospitals in close quarters without a mask, so there you go. As long as you don’t die, the US Constitution guarantees you the right to infect others, knowingly or not, right? They pretend this to be so.

        We’ve merely endured 6 months of what could be, without proper precautions, a 2+ year multiple-wave pandemic, total worldwide deaths may as numerous as a century ago. There are simply more potential victims now, and increased tech has been offset by an increase in proud ignorance, selfishness and greed.

        If you are an essential worker in a public space, you can see how many people are working with masks on don’t fit them properly, pull them down when they imagine the coast is clear, don’t adequately wash hands, rub eyes and then touch surfaces, and other poor hygienic behaviors. These are the people who bother to toss on a mask at all. The rest of society doesn’t even try that hard to prevent virus spreading. If you are elderly or have an immunodeficiency, heaven help you. Because your neighbors clearly won’t.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.