Morgan Stanley’s Katy Huberty says that Apple’s App Store is trending ahead of forecasts in May, after a weaker-than-expected April. This could be a sign that Apple is on track to outperform in the company’s third fiscal quarter.
Mike Peterson for AppleInsider:
Lead analyst Katy Huberty says that App Store net revenue is clocking in five points ahead of her original 7% year-over-year May forecast. The uptick comes after a weaker growth in April.
Because of that, growth has to hold just 5% year-over-year to meet the bank’s June quarter forecast. This suggests an upward bias to Services in the June quarter and results that outperform Morgan Stanley’s expectations…
“We are encouraged by the month-to-date App Store performance as it implies engagement is exceeding our expectations despite measures to fight the COVID-19 pandemic being rolled back. And with a 3-point easier Y/Y comp in the month of June, we believe it is likely that App Store outperforms our forecast by quarter end,” Huberty wrote.
MacDailyNews Take: Maybe with another quarterly beat, due at the end of June, Apple’s stock price will actually go up?
Hope springs eternal in the palatial halls of the MacDailyNews headquarters.
Thus begins Memorial Day Weekend here in the U.S. We salute our fallen heroes and give thanks to them.
It is also just past five o’clock somewhere, so interns, please commence with your most sacred duty and TAP THAT KEG!
Prost, everyone! 🍻
An Apple earnings beat likely won’t do much for little guy shareholders hoping for a share price boost. It’s not just Apple but seemingly all the recent stocks that had topped earnings either remained flat or even fell. As this is not just an Apple shareholders’ problem, I don’t feel too bad. I don’t know if this is something that is becoming commonplace with the stock market or just due to the pandemic. It doesn’t make much sense to me but big investors must be waiting for something to happen.
Because I’ve done very well with owning Apple over the years, I’m not expecting much from the stock this year but I’m glad Apple is making plenty of money and perhaps they’ll keep boosting the dividend. Unfortunately, Apple will continue throwing most of its money away on share buybacks which mostly benefits Apple management and the largest institutional Apple shareholders. I just wish Apple could somehow make the stock more attractive to investors, but it appears Apple may have run out of ideas that show investors any long-term growth potential.
Apple is underrated as usual by WS and the geeks a buying opportunity.
“it appears Apple may have run out of ideas that show investors any long-term growth potential.”
Please. Are you sourcing information from Android World, or Dell Digest?
A company that focuses on making their stock more attractive to investors is probably short-lived, but a company that seeks to be profitable with predictable quality, innovation and smart management, will increase the likelihood investors will see reasons to own the stock…with an enduring affect.
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