Apple: Why Shares Are Struggling

seekingalpha2021-06-09

Summary Stock is down this year despite two massive earnings beats. High growth bar and rising taxes may be the two biggest culprits. Shares need to break out of their technical range. We are just a...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（25）

shawnhuat
·2021-06-14
Come on
Reply
Like
Report
Fold Replies
- LynnHuat:
  yes [开心]
  2021-06-14
  Reply
  Report
- LynnHuat:
  t [开心]
  2021-06-14
  Reply
  Report
- LynnHuat:
  yes [开心]
  2021-06-14
  Reply
  Report
KLok
·2021-06-13
Puzzling......
Reply
1
Report
Mabbu
·2021-06-13
Sad apple....
Reply
Like
Report
Wh39
·2021-06-12
Good
Reply
Like
Report
KLok
·2021-06-11
Patience.......
Reply
Like
Report
Samuel.L
·2021-06-09
Apple is gonna be bigger
Reply
2
Report
Fold Replies
- Samuel.L:
  Lersngo
  2021-06-09
  Reply
  Report
All in Tesla
·2021-06-09
It’s a mature company and they need to innovation
Reply
4
Report
Dny
·2021-06-09
[思考]
Reply
Like
Report
Bull1973
·2021-06-09
Like and comment pls. Thanks
Reply
1
Report
Benstonk
·2021-06-09
Why is it struggling?
Reply
4
Report
dchoykit
·2021-06-09
If you like apple, like this comment!
Reply
2
Report
Fold Replies
- Bull1973:
  Like like like
  2021-06-09
  Reply
  Report
piggytank
·2021-06-09
Don't know leh
Reply
6
Report
Fold Replies
- Superpiggy:
  Great
  2021-07-04
  Reply
  Report
- piggytank:
  It's happening
  2021-06-15
  Reply
  Report
- piggytank:
  Today chiong
  2021-06-14
  Reply
  Report
View more 2 comments
youwantwhat
·2021-06-09
Hi
Reply
1
Report
WilliamTeo
·2021-06-09
Up up
Reply
3
Report
Fold Replies
- dchoykit:
  lets goooo
  2021-06-09
  Reply
  Report
Daveb
·2021-06-09
????yesterday they were telling us that Apple was about to ‘fly’... Holdcifvyou havethem, do not buy in if you havent. Your money is 1000% safer with GME... beleive it or not. ??????
Reply
1
Report
Fold Replies
- Daveb:
  ??? today is going to be great
  2021-06-09
  Reply
  Report
- charlito:
  dont believe it hehe
  2021-06-09
  Reply
  Report
Newcomer007
·2021-06-09
Apple should rise again after the covid.
Reply
3
Report
Fold Replies
- Matcha21:
  Buy buy
  2021-06-09
  Reply
  Report
- HorngWey:
  Buy buy
  2021-06-09
  Reply
  Report
Newcomer007
·2021-06-09
Apple should rise again after the Covid.
Reply
3
Report
Chimmy
·2021-06-09
Sows n
Reply
2
Report
Fold Replies
- Chimmy:
  Typo on my original post. Meant to say it does not matter. I holding since $120 and will continue to hold for long time
  2021-06-09
  Reply
  Report
Newcomer007
·2021-06-09
Apple should rise again after the Covid.
Reply
2
Report
bluesea2021
·2021-06-09
Hi
Reply
2
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1181136591?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-06-09 17:12","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"1181136591","market":"us","top_or_hot":-1,"title":"Apple: Why Shares Are Struggling","media":"seekingalpha","content":"<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">Source Link</a>\n\n</div>\n","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AAPL","symbol_name":"苹果","start_time":0,"source_url":"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","article_id":"1181136591","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","pubTimestamp":1623229921,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AAPL":"苹果"},"translate_title":"苹果：股市为何举步维艰","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":0.9},"content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":185939080,"gmtCreate":1623629730840,"gmtModify":1704207178233,"author":{"id":"3575420754880245","authorId":"3575420754880245","name":"shawnhuat","avatar":"https://static.tigerbbs.com/ce96f5461b1fd7c34fc7f8592a7eb525","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Come on","listText":"Come on","text":"Come on","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/185939080","repostId":1181136591,"repostType":2,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4735949,"gmtCreate":1623630157126,"gmtModify":1663228694143,"authorId":3586129577058331,"author":{"id":3586129577058331,"authorId":3586129577058331,"name":"LynnHuat","avatar":"https://static.tigerbbs.com/94e7e6c815f2a79e63842d1a6ccbe95c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":185939080,"type":1,"supId":0,"prevId":0,"content":"yes [开心]","text":"yes [开心]","html":"yes [开心]"},{"id":4736003,"gmtCreate":1623630289022,"gmtModify":1663228693732,"authorId":3586129577058331,"author":{"id":3586129577058331,"authorId":3586129577058331,"name":"LynnHuat","avatar":"https://static.tigerbbs.com/94e7e6c815f2a79e63842d1a6ccbe95c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":185939080,"type":1,"supId":0,"prevId":0,"content":"t [开心]","text":"t [开心]","html":"t [开心]"},{"id":4735812,"gmtCreate":1623629753565,"gmtModify":1663228693567,"authorId":3586129577058331,"author":{"id":3586129577058331,"authorId":3586129577058331,"name":"LynnHuat","avatar":"https://static.tigerbbs.com/94e7e6c815f2a79e63842d1a6ccbe95c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":185939080,"type":1,"supId":0,"prevId":0,"content":"yes [开心]","text":"yes [开心]","html":"yes [开心]"}],"langContent":"EN"},{"id":182511895,"gmtCreate":1623588049617,"gmtModify":1704206655165,"author":{"id":"3582450584533032","authorId":"3582450584533032","name":"KLok","avatar":"https://static.tigerbbs.com/7d135114c7d99f91051322404730d3e0","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Puzzling......","listText":"Puzzling......","text":"Puzzling......","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/182511895","repostId":1181136591,"repostType":2,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":182207430,"gmtCreate":1623574304720,"gmtModify":1704206489344,"author":{"id":"3582077407840671","authorId":"3582077407840671","name":"Mabbu","avatar":"https://static.tigerbbs.com/c40bb9c2c203f909ba09ab554180a10a","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Sad apple....","listText":"Sad apple....","text":"Sad apple....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/182207430","repostId":1181136591,"repostType":2,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":186662017,"gmtCreate":1623493324839,"gmtModify":1704205074653,"author":{"id":"3579859868988047","authorId":"3579859868988047","name":"Wh39","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186662017","repostId":1181136591,"repostType":2,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183786613,"gmtCreate":1623359275532,"gmtModify":1704201512513,"author":{"id":"3582450584533032","authorId":"3582450584533032","name":"KLok","avatar":"https://static.tigerbbs.com/7d135114c7d99f91051322404730d3e0","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Patience.......","listText":"Patience.......","text":"Patience.......","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183786613","repostId":1181136591,"repostType":2,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189905804,"gmtCreate":1623237415608,"gmtModify":1704198989318,"author":{"id":"3563577781679506","authorId":"3563577781679506","name":"Samuel.L","avatar":"https://static.tigerbbs.com/1186b61f5b04203ae75a2949bd647713","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Apple is gonna be bigger","listText":"Apple is gonna be bigger","text":"Apple is gonna be bigger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/189905804","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4649191,"gmtCreate":1623237431094,"gmtModify":1663228280545,"authorId":3563577781679506,"author":{"id":3563577781679506,"authorId":3563577781679506,"name":"Samuel.L","avatar":"https://static.tigerbbs.com/1186b61f5b04203ae75a2949bd647713","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189905804,"type":1,"supId":0,"prevId":0,"content":"Lersngo","text":"Lersngo","html":"Lersngo"}],"langContent":"EN"},{"id":189902385,"gmtCreate":1623237308547,"gmtModify":1704198987528,"author":{"id":"3577580366301047","authorId":"3577580366301047","name":"All in Tesla","avatar":"https://community-static.tradeup.com/news/8db11f6e6a9a2a52850e734188850dc2","vip":1,"crmLevel":7,"crmLevelSwitch":1},"htmlText":"It’s a mature company and they need to innovation&nbsp;","listText":"It’s a mature company and they need to innovation&nbsp;","text":"It’s a mature company and they need to innovation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189902385","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189901178,"gmtCreate":1623237146394,"gmtModify":1704198984078,"author":{"id":"3583713903095207","authorId":"3583713903095207","name":"Dny","avatar":"https://static.tigerbbs.com/df94541de0876a6ec7f52cfea841f652","vip":1,"crmLevel":4,"crmLevelSwitch":1},"htmlText":"[思考]","listText":"[思考]","text":"[思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189901178","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":189044747,"gmtCreate":1623236338089,"gmtModify":1704198962983,"author":{"id":"3584680402793671","authorId":"3584680402793671","name":"Bull1973","avatar":"https://static.tigerbbs.com/866d29bf88ff7363d121a5ccc6028aae","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like and comment pls. Thanks&nbsp;","listText":"Like and comment pls. Thanks&nbsp;","text":"Like and comment pls. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189044747","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189048994,"gmtCreate":1623236016418,"gmtModify":1704198956913,"author":{"id":"3574851080358491","authorId":"3574851080358491","name":"Benstonk","avatar":"https://static.tigerbbs.com/c8a964cfa9223e4704989c9a4b9b772e","vip":1,"crmLevel":3,"crmLevelSwitch":1},"htmlText":"Why is it struggling?&nbsp;","listText":"Why is it struggling?&nbsp;","text":"Why is it struggling?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189048994","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189040670,"gmtCreate":1623235742890,"gmtModify":1704198951667,"author":{"id":"3575548270550667","authorId":"3575548270550667","name":"dchoykit","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"If you like apple, like this comment!","listText":"If you like apple, like this comment!","text":"If you like apple, like this comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/189040670","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4648956,"gmtCreate":1623236297809,"gmtModify":1663228278247,"authorId":3584680402793671,"author":{"id":3584680402793671,"authorId":3584680402793671,"name":"Bull1973","avatar":"https://static.tigerbbs.com/866d29bf88ff7363d121a5ccc6028aae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189040670,"type":1,"supId":0,"prevId":0,"content":"Like like like","text":"Like like like","html":"Like like like"}],"langContent":"EN"},{"id":189056428,"gmtCreate":1623235449964,"gmtModify":1704198946080,"author":{"id":"3583634477135714","authorId":"3583634477135714","name":"piggytank","avatar":"https://static.tigerbbs.com/bab67e8bc985eb4d4ec0e266af302f0c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Don't know leh","listText":"Don't know leh","text":"Don't know leh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://ttm.financial/post/189056428","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5114355,"gmtCreate":1625353701410,"gmtModify":1663230490028,"authorId":3585443322417198,"author":{"id":3585443322417198,"authorId":3585443322417198,"name":"Superpiggy","avatar":"https://static.tigerbbs.com/93ba1327cb2f2000ce46f90e378007a6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189056428,"type":1,"supId":4648810,"prevId":0,"content":"Great","text":"Great","html":"Great"},{"id":4764725,"gmtCreate":1623735683816,"gmtModify":1663228822944,"authorId":3583634477135714,"author":{"id":3583634477135714,"authorId":3583634477135714,"name":"piggytank","avatar":"https://static.tigerbbs.com/bab67e8bc985eb4d4ec0e266af302f0c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189056428,"type":1,"supId":4648810,"prevId":0,"content":"It's happening","text":"It's happening","html":"It's happening"},{"id":4735134,"gmtCreate":1623628333472,"gmtModify":1663228691138,"authorId":3583634477135714,"author":{"id":3583634477135714,"authorId":3583634477135714,"name":"piggytank","avatar":"https://static.tigerbbs.com/bab67e8bc985eb4d4ec0e266af302f0c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189056428,"type":1,"supId":0,"prevId":0,"content":"Today <u>chiong</u>","text":"Today <u>chiong</u>","html":"Today <u>chiong</u>"},{"id":4660700,"gmtCreate":1623293842478,"gmtModify":1663228336937,"authorId":3583634477135714,"author":{"id":3583634477135714,"authorId":3583634477135714,"name":"piggytank","avatar":"https://static.tigerbbs.com/bab67e8bc985eb4d4ec0e266af302f0c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189056428,"type":1,"supId":4648810,"prevId":0,"content":"Signs of it going up <u>coming</u>","text":"Signs of it going up <u>coming</u>","html":"Signs of it going up <u>coming</u>"},{"id":4648961,"gmtCreate":1623236320053,"gmtModify":1663228279743,"authorId":3584680402793671,"author":{"id":3584680402793671,"authorId":3584680402793671,"name":"Bull1973","avatar":"https://static.tigerbbs.com/866d29bf88ff7363d121a5ccc6028aae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189056428,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"}],"langContent":"EN"},{"id":189050468,"gmtCreate":1623235029154,"gmtModify":1704198939353,"author":{"id":"3586328023047423","authorId":"3586328023047423","name":"youwantwhat","avatar":"https://static.tigerbbs.com/040336c34819c84fe9c8dd63e1246f78","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189050468","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189024349,"gmtCreate":1623234824181,"gmtModify":1704198935087,"author":{"id":"3575416215572570","authorId":"3575416215572570","name":"WilliamTeo","avatar":"https://static.tigerbbs.com/665764fc5f5e89c64f2caa13df0fe1e3","vip":1,"crmLevel":4,"crmLevelSwitch":1},"htmlText":"Up up","listText":"Up up","text":"Up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/189024349","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4648864,"gmtCreate":1623235753863,"gmtModify":1663228278449,"authorId":3575548270550667,"author":{"id":3575548270550667,"authorId":3575548270550667,"name":"dchoykit","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189024349,"type":1,"supId":0,"prevId":0,"content":"lets goooo","text":"lets goooo","html":"lets goooo"}],"langContent":"EN"},{"id":189062147,"gmtCreate":1623233673089,"gmtModify":1704198918506,"author":{"id":"3575141057639271","authorId":"3575141057639271","name":"Daveb","avatar":"https://static.tigerbbs.com/61df162e1597f1b5a6a6bfb13d7d92f5","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"????yesterday they were telling us that Apple was about to ‘fly’... Holdcifvyou havethem, do not buy in if you havent. Your money is 1000% safer with GME... beleive it or not. ??????","listText":"????yesterday they were telling us that Apple was about to ‘fly’... Holdcifvyou havethem, do not buy in if you havent. Your money is 1000% safer with GME... beleive it or not. ??????","text":"????yesterday they were telling us that Apple was about to ‘fly’... Holdcifvyou havethem, do not buy in if you havent. Your money is 1000% safer with GME... beleive it or not. ??????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/189062147","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4650631,"gmtCreate":1623245059145,"gmtModify":1663228286442,"authorId":3575141057639271,"author":{"id":3575141057639271,"authorId":3575141057639271,"name":"Daveb","avatar":"https://static.tigerbbs.com/61df162e1597f1b5a6a6bfb13d7d92f5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189062147,"type":1,"supId":4648620,"prevId":0,"content":"??? today is going to be great ","text":"??? today is going to be great ","html":"??? today is going to be great "},{"id":4648620,"gmtCreate":1623234369997,"gmtModify":1663228276645,"authorId":3581727570212837,"author":{"id":3581727570212837,"authorId":3581727570212837,"name":"charlito","avatar":"https://static.tigerbbs.com/187f09a2c9b9e341d7b9423366682194","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189062147,"type":1,"supId":0,"prevId":0,"content":"dont believe it hehe","text":"dont believe it hehe","html":"dont believe it hehe"}],"langContent":"EN"},{"id":189011103,"gmtCreate":1623232259202,"gmtModify":1704198884503,"author":{"id":"3580034838470052","authorId":"3580034838470052","name":"Newcomer007","avatar":"https://static.tigerbbs.com/72ffc8b15ab7b4af0760f48a0e342ba1","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"Apple should rise again after the covid.","listText":"Apple should rise again after the covid.","text":"Apple should rise again after the covid.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/189011103","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4648274,"gmtCreate":1623232557321,"gmtModify":1663228275835,"authorId":3574164331534159,"author":{"id":3574164331534159,"authorId":3574164331534159,"name":"Matcha21","avatar":"https://static.tigerbbs.com/fab6e88e3f9fc23d16a1a217d966f8db","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189011103,"type":1,"supId":0,"prevId":0,"content":"Buy buy ","text":"Buy buy ","html":"Buy buy "},{"id":4648603,"gmtCreate":1623234286267,"gmtModify":1663228272734,"authorId":3571732515271511,"author":{"id":3571732515271511,"authorId":3571732515271511,"name":"HorngWey","avatar":"https://static.tigerbbs.com/7d42a2d35f371c70ad185be192d64cc9","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189011103,"type":1,"supId":0,"prevId":0,"content":"Buy buy","text":"Buy buy","html":"Buy buy"}],"langContent":"EN"},{"id":189013418,"gmtCreate":1623232187134,"gmtModify":1704198883840,"author":{"id":"3580034838470052","authorId":"3580034838470052","name":"Newcomer007","avatar":"https://static.tigerbbs.com/72ffc8b15ab7b4af0760f48a0e342ba1","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"Apple should rise again after the Covid.","listText":"Apple should rise again after the Covid.","text":"Apple should rise again after the Covid.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189013418","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189013978,"gmtCreate":1623232172694,"gmtModify":1704198882853,"author":{"id":"3565004892423880","authorId":"3565004892423880","name":"Chimmy","avatar":"https://static.tigerbbs.com/eb71d738ca2f4da611b425823ebf3c60","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Sows n","listText":"Sows n","text":"Sows n","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/189013978","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4648236,"gmtCreate":1623232273498,"gmtModify":1663228276937,"authorId":3565004892423880,"author":{"id":3565004892423880,"authorId":3565004892423880,"name":"Chimmy","avatar":"https://static.tigerbbs.com/eb71d738ca2f4da611b425823ebf3c60","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.03","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189013978,"type":1,"supId":0,"prevId":0,"content":"Typo on my original post. Meant to say it does not matter. I holding since $120 and will continue to hold for long time","text":"Typo on my original post. Meant to say it does not matter. I holding since $120 and will continue to hold for long time","html":"Typo on my original post. Meant to say it does not matter. I holding since $120 and will continue to hold for long time"}],"langContent":"EN"},{"id":189010108,"gmtCreate":1623232079304,"gmtModify":1704198879566,"author":{"id":"3580034838470052","authorId":"3580034838470052","name":"Newcomer007","avatar":"https://static.tigerbbs.com/72ffc8b15ab7b4af0760f48a0e342ba1","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"Apple should rise again after the Covid.","listText":"Apple should rise again after the Covid.","text":"Apple should rise again after the Covid.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189010108","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189032060,"gmtCreate":1623231820750,"gmtModify":1704198872522,"author":{"id":"3586302070197771","authorId":"3586302070197771","name":"bluesea2021","avatar":"https://static.tigerbbs.com/73eb680e3d17db63abd07c00f7afd3e0","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189032060","repostId":1181136591,"repostType":4,"repost":{"id":"1181136591","pubTimestamp":1623229921,"share":"https://www.laohu8.com/m/news/1181136591?lang=&edition=full","pubTime":"2021-06-09 17:12","market":"us","language":"en","title":"Apple: Why Shares Are Struggling","url":"https://stock-news.laohu8.com/highlight/detail?id=1181136591","media":"seekingalpha","summary":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Stock is down this year despite two massive earnings beats.</li>\n <li>High growth bar and rising taxes may be the two biggest culprits.</li>\n <li>Shares need to break out of their technical range.</li>\n</ul>\n<p>We are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0c4a0333188c18d1f43e4e85b41523a6\" tg-width=\"640\" tg-height=\"272\">(<i>Source: Yahoo! Finance)</i></p>\n<p>The first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).</p>\n<p>In my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.</p>\n<p><img src=\"https://static.tigerbbs.com/2b61b66cfb83a8e7f307580dd6277be6\" tg-width=\"625\" tg-height=\"397\">(<i>Source: Seeking Alpha estimates page,seen here)</i></p>\n<p>I said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.</p>\n<p>Also, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.</p>\n<p>The second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.</p>\n<p>In a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.</p>\n<p>But with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.</p>\n<p>Right now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.</p>\n<p><img src=\"https://static.tigerbbs.com/d1e9824e0460f9dd99f18e189ee0cff4\" tg-width=\"640\" tg-height=\"269\">(<i>Source: Yahoo! Finance)</i></p>\n<p>While Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.</p>","source":"seekingalpha","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: Why Shares Are Struggling</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: Why Shares Are Struggling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a...</p>\n\n<a href=\"https://seekingalpha.com/article/4433665-apple-why-shares-are-struggling\">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://seekingalpha.com/article/4433665-apple-why-shares-are-struggling","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181136591","content_text":"Summary\n\nStock is down this year despite two massive earnings beats.\nHigh growth bar and rising taxes may be the two biggest culprits.\nShares need to break out of their technical range.\n\nWe are just a few weeks away from the midpoint of 2021. If you had told someone that technology giant Apple (AAPL) would have reported two of the biggest earnings beats in corporate history so far this year and yet the stock would have significantly underperformed the NASDAQ Index, they might not have believed you. However, that's just where we are now, as the chart below shows how the stock has declined 5.1% through Monday despite the Index's nice gains. Today, I'd like to discuss why I believe shares are doing poorly at the moment, why these bearish points should be mostly discounted, and how Apple can get back to all-time highs.\n(Source: Yahoo! Finance)\nThe first thing I can point to as a reason for underperformance is actually outperformance. Apple shares over the past five years, prior to the start of this one, had gone from the mid $20s (dividend and split-adjusted) to roughly $132 a share. The stock was a big winner and thus expectations continued to go higher and higher. Some investors just weren't willing to bet on a company worth a bit more than $2 trillion, and a number of last year's winners have struggled so far this year, like Tesla (TSLA) and Amazon (AMZN).\nIn my last Apple article, I discussed how the company was becominga victim of its own success. Because the two earnings reports so far this year were so great, the thought process has shifted to can Apple ever do any better? In this case, I'm not talking about strict dollar amounts, but growth percentages. Look at the chart below, showing how once we hit the December 2021 (fiscal Q1 2022) quarter, revenue growth rates are expected to crash down.\n(Source: Seeking Alpha estimates page,seen here)\nI said previously that Apple bears would jump at the possibility of Apple announcing a revenue decline for the March 2022 fiscal quarter, even if it is due to the previous year being one of the best quarters we've ever seen. Fortunately, Apple's overall revenue trajectory remains strong, and I think management has a solid plan in place. Just like we saw with the iPad earlier this year, I think new storage options on this year's iPhones will allow for average selling price upside, offsetting some concerns of a supercycle sales slowdown.\nAlso, despite Apple having a great start to the year, Macmarket share wasonly 8% in calendar Q1, so imagine how much more room there is to grow in the PC space. I'm not concerned with a revenue blip every now and then if the long-term trajectory is still for more records, which is what most expectations call for in the coming years.\nThe second item I believe investors are a little worried about is the potential for rising taxes. The first part of this would obviously be higher taxes on the rich, especially capital gains taxes, that could limit investment in stocks. For Apple though, the issue would be higher corporate taxes, which obviously would impact the profit monster. For instance, the difference between an overall tax rate of 15% versus 18% for Apple in its fiscal 2022 year (based on current estimates) is roughly $3 billion in net income, or almost 20 cents in EPS. A nickel per quarter headwind makes it harder to impress investors, especially when you are coming off the best year in your history.\nIn a similar manner, investors are likely concerned about the potential rise in interest rates and ending of easy money policies around the globe. Stocks have been pushed to new all-time highs as a result, but what happens when the Fed starts to taper and other central banks follow suit? Apple shares had run to a forward P/E valuation in the low to mid 30s, well above themid-teens figure it was at just a few years ago.\nBut with the decline in shares from their highs and the rise in EPS estimates after two large beats, you are now paying about 24 times the next twelve months' expected EPS. That's not a terrible price to pay considering the total package, including the massive buyback, and theaverage analyst price targetrepresents more than $30 upside from current levels. Interestingly enough, rising interest rates are actually good further down the Apple income statement, as its $80 billion or so in net cash will generate a bit of extra interest.\nRight now, Apple shares are stuck in a trading range, as the chart below shows. The 50-day moving average (purple line) is forming resistance, while the 200-day (orange line) is forming support. The next major move can occur once Apple can get out of this channel, and investors are hoping it is to the upside, which could form the base to get the stock to new highs. If shares drop, the 50-day could cross below its longer-term counterpart, which would be the dreaded technical death cross.\n(Source: Yahoo! Finance)\nWhile Apple as a business has been firing on all cylinders lately, the same cannot be said for shares of the stock. After a massive multi-year rally, it seems that investors are worried about tough growth comparisons coming up, rising interest rates, and higher corporate taxes. While these fears are something to keep in mind, the valuation of the name has improved to a point where they should mostly be digested. Now, the stock just needs to break out of its recent trading range, and getting above the 50-day could be the catalyst to get the name going again.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":61,"commentSize":25,"repostSize":0,"favoriteSize":4,"likeStatus":false,"favoriteStatus":false}}