Apple Stock Still Worth It, Says Analyst
Apple Stock Still Worth It, Says Analyst
Apple may be lagging behind its competitors in the AI game, but according to one analyst, it’s still a good idea to own the stock. Dan Flax of Neuberger Berman told Yahoo Finance Live that he is still fond of the stock at its current levels, despite the fact that the company has not been as innovative as Microsoft and Google.
Both tech giants have been integrating generative AI such as ChatGPT and Bard respectively into their technologies, while Apple has been more focused on evolving its hardware and software applications.
"If we look to what they said about the March quarter and then think about the next several months, the devices remain incredibly valuable to customers," Flax explained. "What's going on across the company is they're innovating in iPhone, Mac, iPad, wearables.”
“Services remains a very, very interesting business and continue to grow. And so I think what will matter over the next several months and into the balance or late this year and into 2024 is we'll see growth improve."
Despite this analysis, Apple could be hinting at signs of trouble after Apple CEO Tim cook and CFO Luca Maestri made multiple references to the “challenging economy” during last week’s earnings call. According to Yahoo Finance, such a tone was “unusual” for the company, which has typically exuded a greater degree of confidence.
The comments came after Apple reported missed earnings on iPhones and wearable devices, which is likely due to the slowing economy and backed-up supply chains in China. This week, Apple stock is down 2%, while Microsoft is up 1.8% after announcing its ChatGPT integration.
Still, Flax is hopeful that Apple will come back strong in the upcoming months. "If they're able to innovate even in the face of what is of course a challenging environment, I think Apple can create additional shareholder value over the next one to two years,” he added.
Source: 1
READ MORE
Few things are more frustrating than opening your credit card app and discovering your available credit has suddenly shrunk. Even if you've never missed a payment, card issuers generally have the right to reduce your credit limit as part of their ongoing account reviews. The Consumer Financial Protection Bureau (CFPB) says this practice is lawful, although certain notification requirements apply.
Assisted-living fees suddenly increasing? Learn how to review the contract, dispute unclear charges, protect your parent, and find outside help.
My parents proudly told us they had prepaid their funeral years ago so we would never have to worry about unexpected bills. Then the funeral home said today's prices were much higher and that we might owe more money after all. That surprising conversation raises an important question many families never expect to face, because whether you owe anything often depends on the contract that was signed.
A contractor keeps delaying your mother's home repairs after taking a deposit? Learn your legal rights, how to demand action, recover your money, file complaints, and avoid costly home improvement scams.
Losing parents is difficult enough without having to make financial decisions immediately afterward. When a collection of antiques, artwork, coins, sports memorabilia, or other keepsakes is involved, family members often disagree about how quickly to sell. Taking a little extra time to understand what the collection is actually worth can prevent expensive mistakes.
This couple knows exactly who they want to inherit. The harder question is whether the people left out can drag that decision into court.
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
Dear reader,
It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.
Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!
Warmest regards,
The Moneymade team
