srsly no o_老虎社区_美港股上老虎

ncp
2021-10-08

srsly no one cares about analysts

Apple Stock Will Struggle From Here, Analyst Cautions. Here’s Why.

Trigger warning for Apple bulls: I’m about to address the case for caution on the stock. Bernstein a

Apple Stock Will Struggle From Here, Analyst Cautions. Here’s Why.

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

推荐
最新

暂无评论

热议股票

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":821301006,"tweetId":"821301006","gmtCreate":1633694465629,"gmtModify":1633694465737,"author":{"id":3585131915637222,"idStr":"3585131915637222","authorId":3585131915637222,"authorIdStr":"3585131915637222","name":"ncp","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>srsly no one cares about analysts</p></body></html>","htmlText":"<html><head></head><body><p>srsly no one cares about analysts</p></body></html>","text":"srsly no one cares about analysts","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/821301006","repostId":1192810083,"repostType":4,"repost":{"id":"1192810083","kind":"news","pubTimestamp":1633656904,"share":"https://www.laohu8.com/m/news/1192810083?lang=&edition=full","pubTime":"2021-10-08 09:35","market":"us","language":"en","title":"Apple Stock Will Struggle From Here, Analyst Cautions. Here’s Why.","url":"https://stock-news.laohu8.com/highlight/detail?id=1192810083","media":"Barrons","summary":"Trigger warning for Apple bulls: I’m about to address the case for caution on the stock.\nBernstein a","content":"<p>Trigger warning for Apple bulls: I’m about to address the case for caution on the stock.</p>\n<p>Bernstein analyst Toni Sacconaghi lays out the case in a research note on Thursday. He focus on the most basic question for&nbsp;Apple&nbsp;(ticker:AAPL) shares: What can drive the stock higher from here?</p>\n<p>Sacconaghi points out that Apple has re-rated over the last two years from a below-market multiple to one trading at a 24% premium to the market. Apple traded at a discount to the market from 2013 to 2019, he notes. Apple now trades at a forward P/E of 26 times, he writes, “elevated” relative to historic norms.</p>\n<p>The analyst starts by reviewing the bull case for the stock. He notes that Apple fans say the company has a leverageable consumer brand that will allow Apple to both increase prices and enter new categories, like cars and artificial reality headsets.</p>\n<p>Apple bulls see the installed base of 1.65 billion devices offering ample room to deliver new services, including advertising, and possibly even social media. Not least, Sacconaghi writes, bulls see potential for higher gross margins as services become a higher percentage of the company’s revenue mix, creating the potential for consistent double-digit per-share earnings growth.</p>\n<p>But Sacconaghi counters that he sees limited room for earnings growth in the September 2022 fiscal year given a likely pullback in growth across the product line. His current model projects revenue for FY 2022 declining slightly from the current year.</p>\n<p>In his view, the most likely source of further gains in Apple shares in the near term would have to come from further multiple expansion. He thinks that’s possible if the iPhone 13 cycle is stronger than expected, Apple sets an aggressive new goal on services revenue growth or begins offering its products as a service. (But he’s not betting on it.)</p>\n<p>Sacconaghi also asserts that Apple’s current valuation is “relatively full,” trading inline to higher than other tech megacaps, in particular&nbsp;Facebook&nbsp;(FB) and&nbsp;Alphabet&nbsp;(GOOGL), which as he notes have both better expected growth rates and higher margins.</p>\n<p>“Looked at another way, close to 100% of revenue from Alphabet and Facebook have financial characteristics of Apple’s attractive services business,” which is about 20% of the company’s overall revenue, but Apple trades at a similar multiple to Alphabet and a premium to Facebook.</p>\n<p>Sacconaghi thinks long-term Apple is likely to be a low-to-mid single digit grower. His view is that 70% of the revenue base – iPhone, Mac and iPad – are unlikely to show any long-term growth. He sees new products growth in the 15% range, and projects 15% growth for the services business, generating a blended long-term growth rate in the 4% to 5% range. (Note that as recently as FY 2019, Apple reported a slight revenue decline.)</p>\n<p>Concludes Sacconaghi: Given Apple’s relatively high valuation and the probability that tha the company will struggle to grow in fiscal 2022, the current risk-reward on the stock is “neutral to slightly negative.”</p>\n<p>Amid a broad market rally, Apple shares rose 0.9%, to $143.29.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock Will Struggle From Here, Analyst Cautions. Here’s Why.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock Will Struggle From Here, Analyst Cautions. Here’s Why.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-08 09:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-stock-price-rally-caution-51633620422?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Trigger warning for Apple bulls: I’m about to address the case for caution on the stock.\nBernstein analyst Toni Sacconaghi lays out the case in a research note on Thursday. He focus on the most basic ...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-stock-price-rally-caution-51633620422?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-stock-price-rally-caution-51633620422?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192810083","content_text":"Trigger warning for Apple bulls: I’m about to address the case for caution on the stock.\nBernstein analyst Toni Sacconaghi lays out the case in a research note on Thursday. He focus on the most basic question for Apple (ticker:AAPL) shares: What can drive the stock higher from here?\nSacconaghi points out that Apple has re-rated over the last two years from a below-market multiple to one trading at a 24% premium to the market. Apple traded at a discount to the market from 2013 to 2019, he notes. Apple now trades at a forward P/E of 26 times, he writes, “elevated” relative to historic norms.\nThe analyst starts by reviewing the bull case for the stock. He notes that Apple fans say the company has a leverageable consumer brand that will allow Apple to both increase prices and enter new categories, like cars and artificial reality headsets.\nApple bulls see the installed base of 1.65 billion devices offering ample room to deliver new services, including advertising, and possibly even social media. Not least, Sacconaghi writes, bulls see potential for higher gross margins as services become a higher percentage of the company’s revenue mix, creating the potential for consistent double-digit per-share earnings growth.\nBut Sacconaghi counters that he sees limited room for earnings growth in the September 2022 fiscal year given a likely pullback in growth across the product line. His current model projects revenue for FY 2022 declining slightly from the current year.\nIn his view, the most likely source of further gains in Apple shares in the near term would have to come from further multiple expansion. He thinks that’s possible if the iPhone 13 cycle is stronger than expected, Apple sets an aggressive new goal on services revenue growth or begins offering its products as a service. (But he’s not betting on it.)\nSacconaghi also asserts that Apple’s current valuation is “relatively full,” trading inline to higher than other tech megacaps, in particular Facebook (FB) and Alphabet (GOOGL), which as he notes have both better expected growth rates and higher margins.\n“Looked at another way, close to 100% of revenue from Alphabet and Facebook have financial characteristics of Apple’s attractive services business,” which is about 20% of the company’s overall revenue, but Apple trades at a similar multiple to Alphabet and a premium to Facebook.\nSacconaghi thinks long-term Apple is likely to be a low-to-mid single digit grower. His view is that 70% of the revenue base – iPhone, Mac and iPad – are unlikely to show any long-term growth. He sees new products growth in the 15% range, and projects 15% growth for the services business, generating a blended long-term growth rate in the 4% to 5% range. (Note that as recently as FY 2019, Apple reported a slight revenue decline.)\nConcludes Sacconaghi: Given Apple’s relatively high valuation and the probability that tha the company will struggle to grow in fiscal 2022, the current risk-reward on the stock is “neutral to slightly negative.”\nAmid a broad market rally, Apple shares rose 0.9%, to $143.29.","news_type":1},"isVote":1,"tweetType":1,"viewCount":605,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["AONE.U"],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":28,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Apple Stock Will Struggle From Here, Analyst Cautions. Here’s Why.

评论（4）

热议股票