Apple - Time To Take Another Bite-To The Moon - Tiger Brokers Online Investing Community

Apple - Time To Take Another Bite

seekingalpha2022-04-25

SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...

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.

729

Report

Comment（248）

HengHuat
·2022-04-26
Apple grow grow grow
Reply
Like
Report
Jess261
·2022-04-26
Okay
Reply
Like
Report
TheEndIsNear
·2022-04-26
It usually exceeds analysts' expectations.
Reply
2
Report
WaiSiong81
·2022-04-26
👍
Reply
2
Report
Jeff2022
·2022-04-26
Go go go!
Reply
2
Report
Henryee18
·2022-04-26
Great stock for long term investor
Reply
3
Report
CL777
·2022-04-26
Waiting for $150 to add
Reply
3
Report
MHh
·2022-04-26
Still waiting for a bigger price drop
Reply
7
Report
Angela26
·2022-04-26
like
Reply
4
Report
ArcherWG
·2022-04-26
Good to hear
Reply
4
Report
aden53
·2022-04-26
Like
Reply
5
Report
Vincentwong
·2022-04-26
Ok
Reply
4
Report
SiminC
·2022-04-26
Wow
Reply
5
Report
Fredwkh
·2022-04-26
Like
Reply
3
Report
bluewave
·2022-04-26
Like please
Reply
3
Report
twm124
·2022-04-26
Ok
Reply
3
Report
Cool bird
·2022-04-26
Yes
Reply
5
Report
MoneyCub
·2022-04-26
Like
Reply
4
Report
FionBai
·2022-04-26
Ok
Reply
3
Report
yhl77
·2022-04-26
K
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/2230614999?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-04-25 20:48","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2230614999","market":"us","top_or_hot":-1,"title":"Apple - Time To Take Another Bite","media":"seekingalpha","content":"<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">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":"BK4571","symbol_name":"数字音乐概念","start_time":0,"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","article_id":"2230614999","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","pubTimestamp":1650890927,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4571":"数字音乐概念","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4566":"资本集团","BK4527":"明星科技股","BK4559":"巴菲特持仓","BK4501":"段永平概念","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4515":"5G概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓"},"translate_title":"苹果--是时候再咬一口了","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1},"content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9087134424,"gmtCreate":1650972750874,"gmtModify":1676534825064,"author":{"id":"4089527924629590","authorId":"4089527924629590","name":"HengHuat","avatar":"https://static.tigerbbs.com/5854d1323f59ffe9e66dca6d58fd6af8","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4089527924629590","authorIdStr":"4089527924629590"},"htmlText":"Apple grow grow grow&nbsp;","listText":"Apple grow grow grow&nbsp;","text":"Apple grow grow grow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087134424","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9087066874,"gmtCreate":1650932997240,"gmtModify":1676534817890,"author":{"id":"3586490638953193","authorId":"3586490638953193","name":"Jess261","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3586490638953193","authorIdStr":"3586490638953193"},"htmlText":"Okay","listText":"Okay","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087066874","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084779099,"gmtCreate":1650929872266,"gmtModify":1676534816155,"author":{"id":"3575543125383677","authorId":"3575543125383677","name":"TheEndIsNear","avatar":"https://community-static.tradeup.com/news/43c33417cfb81703fd159cf506dd1d95","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3575543125383677","authorIdStr":"3575543125383677"},"htmlText":"It usually exceeds analysts' expectations.","listText":"It usually exceeds analysts' expectations.","text":"It usually exceeds analysts' expectations.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084779099","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084747917,"gmtCreate":1650929804044,"gmtModify":1676534816100,"author":{"id":"4092698747642690","authorId":"4092698747642690","name":"WaiSiong81","avatar":"https://static.tigerbbs.com/81c10c8d3ad2387a719eaa62a541371f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4092698747642690","authorIdStr":"4092698747642690"},"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084747917","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084744277,"gmtCreate":1650929793027,"gmtModify":1676534816092,"author":{"id":"4109979272507442","authorId":"4109979272507442","name":"Jeff2022","avatar":"https://static.itradeup.com/news/e3c358e9995749d218a540214c2210c2","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"idStr":"4109979272507442","authorIdStr":"4109979272507442"},"htmlText":"Go go go!&nbsp;","listText":"Go go go!&nbsp;","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084744277","repostId":2230614999,"repostType":2,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084749279,"gmtCreate":1650929497065,"gmtModify":1676534815941,"author":{"id":"3561088065415396","authorId":"3561088065415396","name":"Henryee18","avatar":"https://static.tigerbbs.com/68e1124a4989ce380d6aa143a07b2620","vip":1,"hat":"https://static.tigerbbs.com/3b7820dfed76481d8dc4de6ac5a7a136","crmLevel":9,"crmLevelSwitch":1,"idStr":"3561088065415396","authorIdStr":"3561088065415396"},"htmlText":"Great stock for long term investor","listText":"Great stock for long term investor","text":"Great stock for long term investor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084749279","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084755957,"gmtCreate":1650929258070,"gmtModify":1676534815837,"author":{"id":"3560241002253187","authorId":"3560241002253187","name":"CL777","avatar":"https://static.tigerbbs.com/e9aef3dd830373a0427a3447b1b564e3","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3560241002253187","authorIdStr":"3560241002253187"},"htmlText":"Waiting for $150 to add","listText":"Waiting for $150 to add","text":"Waiting for $150 to add","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084755957","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084753676,"gmtCreate":1650929076571,"gmtModify":1676534815719,"author":{"id":"4091758936365950","authorId":"4091758936365950","name":"MHh","avatar":"https://static.tigerbbs.com/54b2feced9ef5dcc9e95997d1f4db280","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"4091758936365950","authorIdStr":"4091758936365950"},"htmlText":"Still waiting for a bigger price drop","listText":"Still waiting for a bigger price drop","text":"Still waiting for a bigger price drop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084753676","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084786782,"gmtCreate":1650927688002,"gmtModify":1676534815056,"author":{"id":"3575785954938833","authorId":"3575785954938833","name":"Angela26","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3575785954938833","authorIdStr":"3575785954938833"},"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084786782","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084786331,"gmtCreate":1650927616808,"gmtModify":1676534815057,"author":{"id":"3581837121803380","authorId":"3581837121803380","name":"ArcherWG","avatar":"https://community-static.tradeup.com/news/38e40c44fababa6849ceb15dfe8931a3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581837121803380","authorIdStr":"3581837121803380"},"htmlText":"Good to hear","listText":"Good to hear","text":"Good to hear","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084786331","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084788574,"gmtCreate":1650927599964,"gmtModify":1676534815033,"author":{"id":"4094435594173410","authorId":"4094435594173410","name":"aden53","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4094435594173410","authorIdStr":"4094435594173410"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084788574","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084788689,"gmtCreate":1650927589712,"gmtModify":1676534815025,"author":{"id":"4088590202250050","authorId":"4088590202250050","name":"Vincentwong","avatar":"https://community-static.tradeup.com/news/d33ac9d4da6230b64c0a0c9b3b75281e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4088590202250050","authorIdStr":"4088590202250050"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084788689","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084788929,"gmtCreate":1650927587729,"gmtModify":1676534815017,"author":{"id":"4088941312412870","authorId":"4088941312412870","name":"SiminC","avatar":"https://static.tigerbbs.com/fabe2f6446b7deb3e55a6cdd5a233455","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4088941312412870","authorIdStr":"4088941312412870"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084788929","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084781998,"gmtCreate":1650927526586,"gmtModify":1676534814993,"author":{"id":"3570424148942091","authorId":"3570424148942091","name":"Fredwkh","avatar":"https://static.tigerbbs.com/301d103aff8ff9955978aa630ee85588","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3570424148942091","authorIdStr":"3570424148942091"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084781998","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084781073,"gmtCreate":1650927524246,"gmtModify":1676534814993,"author":{"id":"3578259981610721","authorId":"3578259981610721","name":"bluewave","avatar":"https://static.tigerbbs.com/8e71f1454119ff144295c97018b0ca47","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3578259981610721","authorIdStr":"3578259981610721"},"htmlText":"Like please&nbsp;","listText":"Like please&nbsp;","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084781073","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084789220,"gmtCreate":1650927463885,"gmtModify":1676534814960,"author":{"id":"4103447123846720","authorId":"4103447123846720","name":"twm124","avatar":"https://community-static.tradeup.com/news/133c111c9a6cf675442b0a95780a91d0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4103447123846720","authorIdStr":"4103447123846720"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084789220","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084789646,"gmtCreate":1650927458322,"gmtModify":1676534814968,"author":{"id":"3576790897131947","authorId":"3576790897131947","name":"Cool bird","avatar":"https://static.tigerbbs.com/2a18793145d8e701bbc80926ad081518","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3576790897131947","authorIdStr":"3576790897131947"},"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084789646","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084780550,"gmtCreate":1650927392107,"gmtModify":1676534814943,"author":{"id":"3559862059870297","authorId":"3559862059870297","name":"MoneyCub","avatar":"https://static.tigerbbs.com/1f4ae708d214afbc1b0b1f68ecc65c7e","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3559862059870297","authorIdStr":"3559862059870297"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084780550","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084780618,"gmtCreate":1650927376092,"gmtModify":1676534814933,"author":{"id":"4090580354975560","authorId":"4090580354975560","name":"FionBai","avatar":"https://static.tigerbbs.com/b95d850dba878781b5dde71a539605b6","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4090580354975560","authorIdStr":"4090580354975560"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084780618","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9084780139,"gmtCreate":1650927372786,"gmtModify":1676534814780,"author":{"id":"3578210330936790","authorId":"3578210330936790","name":"yhl77","avatar":"https://static.tigerbbs.com/e3f5d104b4f554fe3544bdd3abd635ae","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3578210330936790","authorIdStr":"3578210330936790"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084780139","repostId":2230614999,"repostType":4,"repost":{"id":"2230614999","kind":"news","pubTimestamp":1650890927,"share":"https://ttm.financial/m/news/2230614999?lang=&edition=fundamental","pubTime":"2022-04-25 20:48","market":"us","language":"en","title":"Apple - Time To Take Another Bite","url":"https://stock-news.laohu8.com/highlight/detail?id=2230614999","media":"seekingalpha","summary":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported a","content":"<html><head></head><body>Summary<ul><li>Record quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).</li><li>Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.</li><li>Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.</li></ul><img src=\"https://static.tigerbbs.com/ea532592996230e7f06219ea644f8da4\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/>Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.<img src=\"https://static.tigerbbs.com/115a5774467bf3b71d1f9f1d7f592b0f\" tg-width=\"640\" tg-height=\"236\" width=\"100%\" height=\"auto\"/>AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.<img src=\"https://static.tigerbbs.com/8883d2c7a307f223544fedb9ae128b31\" tg-width=\"640\" tg-height=\"427\" width=\"100%\" height=\"auto\"/>Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.<img src=\"https://static.tigerbbs.com/38b4f7a69a160f1011888f5077728006\" tg-width=\"640\" tg-height=\"222\" width=\"100%\" height=\"auto\"/>Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.<img src=\"https://static.tigerbbs.com/ccb51716a162d62f2cab44a7bb402e7f\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"/>AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.<img src=\"https://static.tigerbbs.com/648f1a2d001c9cb72b6ceb8121641911\" tg-width=\"640\" tg-height=\"232\" width=\"100%\" height=\"auto\"/>AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks when interest rates rise.<blockquote>Nine stocks in the S&amp;P 500 — including information-technology giants like Advanced Micro Devices (<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor&#39;s Business Daily analysis of data from LPL Financial and S&amp;P Global Market Intelligence.</blockquote>Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.<blockquote>The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to &#34;unfavorable economic conditions and sluggish seasonal demand.&#34;</blockquote><blockquote>&#34;While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,&#34; Canalys Analyst Sanyam Chaurasia said in a statement.</blockquote>Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.<img src=\"https://static.tigerbbs.com/5fe377b4b2f8b7fd49a71f243b3a7fc4\" tg-width=\"517\" tg-height=\"295\" width=\"100%\" height=\"auto\"/>Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.<blockquote>Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.</blockquote><blockquote>CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.</blockquote>Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.<blockquote>We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.</blockquote>Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.<img src=\"https://static.tigerbbs.com/345f4ee69e9bb5548c5ff561edca975c\" tg-width=\"640\" tg-height=\"245\" width=\"100%\" height=\"auto\"/>AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:<blockquote>As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.</blockquote><blockquote>Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We&#39;re also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.</blockquote>Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:<blockquote>Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to &#34;take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.</blockquote>Another analyst gave a neutral rating on Apple stock given the uncertainty around China:<blockquote>Crockett set a price target of $184 a share on Apple&#39;s stock in addition to setting his neutral rating on the company&#39;s shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.</blockquote>Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.</body></html>","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 - Time To Take Another Bite</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 - Time To Take Another Bite\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-25 20:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite>seekingalpha</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and ...\n\n<a href=\"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","AAPL":"苹果","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念"},"source_url":"https://seekingalpha.com/article/4503283-apple-time-to-take-another-bite","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2230614999","content_text":"SummaryRecord quarterly revenues reported in the first quarter of 2022 are expected to be reported again in Q2 (quarter ending in March).Apple is likely to announce another dividend increase and additional share buybacks in the Q2 earnings report.Potential slowdowns in the June quarter due to China lockdowns and supply chain constraints may impact the share price in short-term but in long-term, the stock is a solid buy and hold.Sam Diephuis/DigitalVision via Getty ImagesIf you are an investor in growth and technology stocks, you are probably wondering when the sentiment is going to turn back around in favor of those stocks as a long-term investment. Starting in the fall of 2021, many of the top growth and technology stocks have fallen in price by 10 to 30% or more as interest rates are expected to rise, supply chain issues have impacted semiconductor production, and inflation has driven up prices. The price of Apple, Inc (NASDAQ:AAPL) stock rose to a high of nearly $183 before dropping back down to the current price of $161.79 as of market close on 4/22/22.With the company due to report earnings after the market close on Wednesday, April 27, investors will be looking for clues to forward guidance in light of the current bearish market environment. It is my opinion that Apple will once again surprise with an earnings beat, and at the same time are likely to announce a new product, such as an iCar (which they filed a patent on), or the AR/VR headset that is rumored to be on the horizon, that will once again shake up the marketplace and raise the stock to a new level.Considering the fundamental, technical, and macroeconomic factors, as well as investor sentiment and favorable shareholder actions, all indications are that Apple is fairly priced today but still offers a good value for the long-term investor. I rate Apple a Buy ahead of earnings, especially if the price drops below $160 in the next few days ahead of the report. In this article I want to explain my reasoning by considering each of the factors.Fundamentally SoundThe current EV/EBITDA ratio is near a recent low based on the past 3 years history, currently at 19.97. The last time it was much lower than that was in summer of 2020 as the stock was recovering from the March 2020 low.AAPL 3-yr EV/EBITDA ratio (Seeking Alpha)The forward P/E sits at about 26, which is slightly above the 5-year average, and slightly above the sector median. But Apple gets an A+ in Profitability based on SA quant factors, so the quality of earnings justifies the higher valuation. Apple is a cash flow machine with a net income margin of 26.5% and levered FCF margin of 21%. Operating cash flow growth is not too shabby either, at 26% YOY.Profitability grades (Seeking Alpha)Profitability grades (Seeking Alpha)Revenue growth YOY is at 28.6% and EBITDA growth YOY sits at a whopping 50.5%. The trend in consensus EPS revisions has been moving upward with 26 up revisions in the past 3 months and only 1 down revision along with 24 up revenue revisions and 1 down.Consensus EPS Revisions (Seeking Alpha)With about $64B in cash and an enterprise value of over $2.6T, Apple is financially sound and fundamentally strong. Company management under Tim Cook has been excellent at capital allocation and in capitalizing on additional service revenues above and beyond the core product lines of iPhones, wearables, Macs, iPads, and other hardware devices. Winning an Oscar for best picture on Apple TV+ did not hurt their business either.In January, the company reported an all-time revenue record reaching $123.9B for the FY22 first quarter, up 11% YOY. All-time highs were reached for iPhone, Mac, Wearables, and Services revenues in that quarter.Technically SpeakingThe chart for Apple has shown some resistance recently as the stock attempts to reach new highs. AAPL stock is currently trading below the 6-month moving average and is starting to look oversold. The Money Flow index and RSI both indicate that the stock is becoming somewhat oversold.AAPL technical chart (TD Ameritrade)Over the past 6 months AAPL stock has traded in a similar manner to the overall market and the technology sector (using XLK as a benchmark) but offering a higher return. The stock is finding support at the $150 level and could drop as low as that level before turning upward again if the earnings report is favorable, as I expect it will be.AAPL Stock chart (Seeking Alpha)What About Rising Rates, Supply Chain Issues, and Inflation?There is some speculation that rising interest rates could negatively impact Apple’s forward earnings. That fear is partly responsible for the recent selloff in technology stocks, including Apple. However, the opposite may actually be true based on past events. In fact, according to this report, Apple is one of the best performing stocks when interest rates rise.Nine stocks in the S&P 500 — including information-technology giants like Advanced Micro Devices (AMD) and Apple as well as health care firm Bio-Techne (TECH) — have powered higher when interest rates entered periods of multiple Fed rate hikes since 1990, says an Investor's Business Daily analysis of data from LPL Financial and S&P Global Market Intelligence.Concerns about supply chain issues are valid and could impact Mac deliveries as well as iPhone demand as China endures further lockdowns related to Covid cases on the rise in Shanghai and other cities where Apple has a large manufacturing presence such as Zhengzhou, although one report states that manufacturing there is unaffected. Inflationary pressures due to rising commodity prices and reduced consumer demand due to concerns about the Ukraine war and impacts to the global economy may be reflected in the upcoming earnings report.However, based on recent upward consensus earnings revisions and reports of growing consumer demand, I think that it is unlikely that a reduction in demand will be reflected in the current quarter’s earnings report. In fact, one source reports that the growing demand for iPhone 13 is helping Apple capture market share in the smartphone space.The Cupertino, California-based Apple accounted for 18% of the smartphone market, up from 15% in the first-quarter of 2021, even as overall smartphone shipments fell 11%, due to \"unfavorable economic conditions and sluggish seasonal demand.\"\"While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple,\" Canalys Analyst Sanyam Chaurasia said in a statement.Investor Sentiment and Analyst RatingsWall Street analysts are bullish on Apple stock with 27 Strong Buy, 7 Buy, 1 Sell and 1 Strong Sell rating.Analyst Ratings (Seeking Alpha)The consensus of SA authors and current Quant ratings give AAPL a Hold rating overall. Often, just before an earnings report there are many conflicting opinions on whether to buy, sell, or hold Apple stock and this quarter is no exception with several recent articles published on SA that suggest selling the stock ahead of earnings.Some analysts are expecting Apple to announce an increase in share buybacks, a dividend increase, or both.Apple typically announces its latest buyback and dividend strategies in conjunction with its March-quarter earnings, and this year’s update could be the “most incremental potential positive” element of Apple’s entire report, according to Wells Fargo analyst Aaron Rakers.CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Chief Financial Officer Luca Maestri said on Apple’s last earnings call that the company expects to recognize record quarterly revenues in the March quarter, but that the YOY comparison may be challenging.We expect to achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints, which we estimate to be less than what we experienced during the December quarter. We expect our revenue growth rate to decelerate from the December quarter, primarily due to 2 factors. First, during the March quarter a year ago, we grew revenue by 54%. Remember that last year, we launched our new iPhones during the December quarter. While this year, we launched them during the September quarter. Due to the later launch a year ago, some of the associated channel inventory fill occurred during the March quarter last year. As a result of the different launch timing, we will face a more challenging year-over-year compare.Shareholder Actions – Dividends and BuybacksApple has been paying a small but growing dividend and most recently declared a cash dividend of $0.22 per share of common stock payable on February 10, 2022, to shareholders of record as of February 7, 2022. The dividend was increased by 7% in the March 2021 quarter and represents 9 years of consecutive dividend increases as shown in the dividend history chart from the Seeking Alpha Dividends page for AAPL.AAPL Dividend History (Seeking Alpha)The current yield sits at about 0.5% and the 4-year average dividend yield is 1%. However, the 5-year yield on cost is currently at about 2.5%, so for dividend growth investors who plan to hold the stock long-term that is an appealing consideration.In the March 2021 quarter, the dividend increase and share repurchase announcement included good news for Apple investors as explained by CFO Luca Maestri:As we continue to execute at an extremely high level, we were also able to return nearly $23 billion to shareholders during the March quarter. This included $3.4 billion in dividends and equivalents and $19 billion through open market repurchases of 147 million Apple shares. We continue to believe there is great value in our stock and maintain our target of reaching a net cash neutral position over time.Given the confidence we have in our business today and into the future, our Board has authorized an additional $90 billion for share repurchases. We're also raising our dividend by 7% to $0.22 per share, and we continue to plan for annual increases in the dividend going forward.Given that announcement and the record revenues recognized in the December quarter, analysts and investors are expecting another dividend increase and additional share repurchases to be announced in the upcoming earnings report on April 27.Looking Ahead with CautionOne potential caution for investors to look for in the earnings report for the quarter ending in March is the outlook and guidance for the next quarter ending in June. Ongoing lockdowns in China and continuing supply chain issues may not have had a detrimental impact on the early part of 2022 but could negatively impact earnings for the second quarter (which is Apple’s fiscal Q3).According to some analysts the shipments of Macs could be impacted by ongoing lockdowns and supply chain disruptions in China:Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple to \"take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.Another analyst gave a neutral rating on Apple stock given the uncertainty around China:Crockett set a price target of $184 a share on Apple's stock in addition to setting his neutral rating on the company's shares. Crockett said that while Apple saw its Mac and iPad businesses get a boost due to the COVID-19 pandemic, and the company had a strong new iPhone release last year, it is facing new obstacles coming from China, where many of its products are made.Earnings are also due next week for Alphabet (GOOG), Amazon (AMZN) and Meta (FB). If any of those megacap tech stocks have a poor earnings report or suggest a slowdown in consumer spending that could have a negative impact on Apple stock as well.I am long AAPL and holding in my No Guts No Glory portfolio as a core long-term position. I will be looking to add to my position if the price drops below $160.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":729,"commentSize":248,"repostSize":0,"favoriteSize":4,"likeStatus":false,"favoriteStatus":false}}