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Analyst Says Apple's Supply Chain That Crashed The iPhone Party Is 'Transitory,' Views Sell-Off As 'Golden Buying Opportunity'

Benzinga2021-10-29

Apple, Inc. (NASDAQ:AAPL) reported mixed fourth-quarter earnings, sending shares lower in after-hours trading.

The Apple Analyst: Wedbush analyst Daniel Ives maintained an Outperform rating and $185 price target.

The Apple Thesis: Apple's fourth-quarter revenues of $83.4 billion missed the consensus estimate, with iPhone revenues of $38.9 billion trailing the consensus estimate of $41.3 billion.

With the "supply chain black cloud" impacting every sector, Ives said Apple's results showed the company isn't immune either. Supply chain constraint negatively impacted revenues, mainly that of iPhones, by about $6 billion, he added.

Every other product category, including the key Services segment, came in ahead of Wedbush's expectations.

"Ultimately it was supply chain that crashed the iPhone 13 party this quarter and will be an overhang into the December quarter," Ives wrote in the note.

The analyst, however, said he views this as transitory and it will in no way impact his long-term bullish view of Apple heading to a $3 trillion market cap in 2022.

Overall demand has been robust globally, the analyst said. Apple will be running into a major iPhone 13 unit shortage for the holiday season if consumer demand keeps up at this pace, he added. This is purely a supply chain issue and not a demand issue for iPhones.

Wedbush views any sell-off as a golden buying opportunity, given its robust view of Apple's demand story into 2022.

AAPL Price Action: In after-hours trading, Apple shares fell 3.53% to $147.19.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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评论52

  • SilentWarrio
    ·2021-10-29
    That is so true. Stay loyal and be rewarded richly!
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  • Dazhu
    ·2021-10-29
    Will go up again
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    收起
    • KLHuat
      Good company will come back in one day
      2021-10-31
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  • Miketee74
    ·2021-10-29
    Hold it and grab the opportunity for buy in at lower price! 
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  • Philip67
    ·2021-10-29
    Yup. Long term still up.....
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  • Xkuanx
    ·2021-10-29
    Good
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  • sunshine138
    ·2021-10-29
    AAPL was bitten a chunk off. 
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  • BlueDaisy
    ·2021-10-29
    Agree. These are just temporary 
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    • BellaEng
      yup
      2021-10-29
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    • Tchwee56
      Like please…
      2021-10-29
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  • JamesfromSG
    ·2021-10-29
    I think so too… these big tech companies are here to stay for a long while 
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  • TeslaLegend
    ·2021-10-29
    Please like and comment. Thanks!
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    收起
    • NCM
      Ok
      2021-10-29
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  • gky
    ·2021-10-29
    Like
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    收起
  • willwees
    ·2021-10-29
    Like pls
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    收起
    • DChia
      Ok
      2021-10-29
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  • June_C
    ·2021-10-29
    Omg
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    • Mingfa
      ok
      2021-10-29
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  • LEESIMON
    ·2021-10-29
    Apple will be back
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  • Boo2bear
    ·2021-10-29
    Chip shortage is here to stay
    回复
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    收起
    • jimmylaw
      like coment
      2021-10-29
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  • VivianChua
    ·2021-10-29
    Growth stock will rise
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    收起
  • ShawnKoh1
    ·2021-10-29
    Like
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    • Boo2bear
      Done
      2021-10-29
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    • ShawnKoh1
      like
      2021-10-29
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  • Lao Tzu Ang
    ·2021-10-29
    Apple is a very safe investment unless the company fundamental has change. 
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    • AlanBright
      did you read the q3 report? it is just insane, the revenue of any single product is much more than avgerage good company. you can trust apple forever
      2021-10-29
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    • PageDickens
      Yes, I'm also a loyal fan of apple. I hope it will get better and better. I bought all kinds of Apple products. They work very well.
      2021-10-29
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    • Smart74
      Agree
      2021-10-29
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  • Winyss10
    ·2021-10-29
    latest
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  • Howhowlee
    ·2021-10-29
    like
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    收起
    • NewPower
      okay.
      2021-10-29
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  • ElvisLHS
    ·2021-10-29
    Read...pls like.
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