John Ternus has officially taken over as CEO of Apple Inc. (NASDAQ:AAPL), succeeding Tim Cook after his successful 15-year run. With Apple's next major iPhone launch scheduled for September 9, it seems the new CEO has only eight days till his first big test.
On September 1, Rosenblatt **** yst Barton Crockett raised the price target on Apple (NASDAQ: AAPL) to $303.00 (from $300.00) while maintaining a Neutral rating on the stock. The price target hike implies roughly 4% downside from current levels.
Rosenblatt's note **** umes successful navigation of supply chain constraints under the new CEO. Price hikes and premium priced products, in particular, are likely to offset margin pressure.
Ternus's test isn't that Apple can generate cash. The tech giant is already strong, with Cook having transformed the company from a $350 billion company to a $4.5 trillion behemoth. His test is instead to prove that there is enough new growth and product innovation to sustain Apple's valuation.
The tech giant has already had a record June quarter. Revenue for the company rose 16% year-over-year to $109.4 billion, whereas diluted EPS increased 29% to $2.02. IPhone and Mac revenue reached June-quarter records, while the installed base surpassed 2.5 billion active devices.
#NASDAQ #aapl
On September 1, Rosenblatt **** yst Barton Crockett raised the price target on Apple (NASDAQ: AAPL) to $303.00 (from $300.00) while maintaining a Neutral rating on the stock. The price target hike implies roughly 4% downside from current levels.
Rosenblatt's note **** umes successful navigation of supply chain constraints under the new CEO. Price hikes and premium priced products, in particular, are likely to offset margin pressure.
Ternus's test isn't that Apple can generate cash. The tech giant is already strong, with Cook having transformed the company from a $350 billion company to a $4.5 trillion behemoth. His test is instead to prove that there is enough new growth and product innovation to sustain Apple's valuation.
The tech giant has already had a record June quarter. Revenue for the company rose 16% year-over-year to $109.4 billion, whereas diluted EPS increased 29% to $2.02. IPhone and Mac revenue reached June-quarter records, while the installed base surpassed 2.5 billion active devices.
#NASDAQ #aapl
13 days ago
