Apple’s major annual conference, WWDC, where the company typically unveils its latest products, kicks off next week. But one analyst doesn’t expect the event to give the stock a lift.
David Vogt of UBS issued his note Wednesday on Apple’s Worldwide Developers Conference, which begins Monday at the company’s Silicon Valley headquarters.
“Shareholders expect Apple to release new artificial-intelligence features after years of lagging behind its rivals on AI. Whether those features drive demand is another question.
“We don’t expect the event to be a positive catalyst for the shares,” he wrote in a research note.
UBS kept its estimates for iPhone revenue and unit sales — the company’s largest segment — unchanged. Apple is enjoying solid demand, the firm said, but there is still lingering uncertainty about its AI strategy.
MacDailyNews Take: UBS analyst David Vogt reiterated his “Neutral” (hold) rating and $296 price target on Apple stock, $13 below the current price, even after he managed to talk it down over $5 today. Profit from Vogt’s baseless fomenting and from the poor decision-making abilities of the mom and pops he scared out of AAPL today.
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UBS is right. As we all know, buy the rumour, sell the news. There are multiple downsides: Even if all the rumours were true, people will be disappointed because they were not surprised. And there’s always a chance that some of the rumours were not true, or the products will get released later. Also, rumours are always incomplete, which leaves room for imagination—even if announcements turns out exactly as rumoured, they will not be exactly as imagined. Because Apple is so well covered these days everything they announce is known (thus priced in) there’s practically zero chance for a positive surprise, which is needed for the stock to go up. So down it goes. I will take that as a buying opportunity.
Well, if you think you are right, why wait to buy lower. Just short it now and start making money, right?
UBS is always wrong on AAPL.
With the memory crunch it will strangle Apple’s products for YEARS. It will limit what they can offer for a low price, there is no other way to fix the issue in the short term. ALL Products are Affected. You will never see affordable mac mini’s, iphones, macbooks for another decade. Could the mem manufacturers fix the problems yes, they are making vast amounts of money which they could invest into new lines to fill the needs that it corrupted without any blowback. They screwed over EVERYONE.
When a stock is valued this highly, the market has already factored in immense success. Almost every major AI feature, Siri update, and operating system tweak expected next week has already leaked or been heavily anticipated. For WWDC to act as a positive catalyst (something that drives the stock price up right after the event), Apple would have to completely shock the world with a feature nobody saw coming.