#5 - APPLE (NASDAQ:AAPL)
Apple (AAPL) Predicting the end of Apple (NASDAQ:AAPL) and being wrong has become a rinse-lather-repeat moment for the market. Still, the Apple bears were at it again. With the company having to shut down all of their factories and Apple stores in China due to spread of the novel coronavirus, many analysts were lamenting the company’s ability to deliver their new iPhones on time for 2020 delivery.
However, what a difference a month makes. The company’s factories are up and running, all their Apple stores in China have reopened. And investors can be assured that Apple will probably be one of the first stores to reopen in the United States.
But the story of Apple is more than the iPhone. The company is doing strong business in its services division. And the company came into the pandemic with one of the strongest balance sheets in the sector with $99 billion in the bank.
“Apple investors should rest easy,” said Loup Ventures Managing Partner Gene Munster. The analyst is forecasting Apple to have 12% revenue growth in the company’s fiscal 2021, after a 5% decline this year. Furthermore, Munster forecast that the company’s GAAP earnings per share (EPS) will increase 32%. That would also be an improvement over a 4% decline in EPS in fiscal 2020.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Read More - Current Price
- $229.24
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $235.25 (2.6% Upside)
