Piper Jaffray analyst Gene Munster agrees with other analysts that Apple is about to experience a grim milestone: sales of the iPhone will experience their first ever year-on-year decline when the company reports its quarterly earnings report next week. This widespread sentiment has sent Apple shares 28% from their 52-week high. But Munster says the poor demand for the current iPhone 6S and the negative Wall Street reaction is setting up Apple’s stock for a big pop by September, when the new iPhone 7 is expected to roll out. “We believe shares of AAPL could achieve upside of over 50% from current levels by the iPhone 7 launch in September,” Munster writes in a note to investors. Munster points out that Apple’s stock is currently trading at 9.7 times its estimated calendar 2017 EPS, which is basically as low as the stock has traded in the past 10 years. The only time Apple’s stock had a lower multiple was in April 2013, a period that Munster argues is very similar to the current situation. At that time Apple was coming off a “somewhat disappointing” iPhone 5 launch and delivering slow, single-digit iPhone unit growth and overall revenue growth. Fast forward… Read full this story
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A top Apple analyst agrees iPhone sales will fall, but says that’s a huge buying opportunity have 318 words, post on www.businessinsider.my at January 21, 2016. This is cached page on Vietnam Art News. If you want remove this page, please contact us.