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2022-09-30

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Apple Stock May Not Be a “Safe Haven” for Much Longer, Bank of America Warns in Downgrade

Apple shares have beaten the S&P 500 so far in 2022, but analyst sees 'risk to this outperformance'

Apple Stock May Not Be a “Safe Haven” for Much Longer, Bank of America Warns in Downgrade

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While some analysts have been upbeat about the performance of the company&#39;s higher-priced iPhone 14 Pro models even as base-level iPhone 14 models seem to be disappointing, Mohan said that a stronger mix of Pro models won&#39;t be able to offset declines in revenue or profits if overall unit sales fall.</p><p>Additionally, he sees &#34;incremental risk of deceleration&#34; for the company&#39;s services business and worries that the iPad segment could see a &#34;reversion to pre-COVID levels.&#34; The Mac business could &#34;partially&#34; revert back to pre-pandemic levels, Mohan continued.</p><p>Then there are the challenges Apple faces from the stronger U.S. dollar. &#34;[W]hile hedges/pricing provide some offset, demand destruction is likely,&#34; Mohan wrote.</p><p>In his latest note, he took the opposite view of Rosenblatt Securities analyst Barton Crockett, who upgraded Apple&#39;s stock Thursday. Crockett was more upbeat about demand dynamics in the iPhone business, writing of strong consumer buying intent, especially for the Pro line, based on the results of his recent U.S. consumer survey.</p><p>Move over, TikTok: Social media has &#39;a new king in town&#39; in BeReal</p><p>Analysts on the whole remain overwhelmingly bullish on Apple shares: Just three of the 41 analysts tracked by FactSet who cover the stock have sell ratings, while six have hold ratings and 32 have buy ratings. The average price target listed on FactSet is $181.92, nearly 28% above current levels.</p></body></html>","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 Stock May Not Be a “Safe Haven” for Much Longer, Bank of America Warns in Downgrade</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 Stock May Not Be a “Safe Haven” for Much Longer, Bank of America Warns in Downgrade\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-30 07:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Apple shares have beaten the S&amp;P 500 so far in 2022, but analyst sees &#39;risk to this outperformance&#39; heading into company&#39;s next fiscal year</p><p>Apple Inc. has beaten the broader technology industry this year, but a Bank of America analyst isn&#39;t sure that the stock can keep it up.</p><p>Analyst Wamsi Mohan downgraded Apple&#39;s stock <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> to neutral from buy Thursday, writing that demand trends could worsen heading into the new fiscal year.</p><p>&#34;Shares have outperformed significantly [year to date]...and have been perceived as a relative safe haven,&#34; he wrote. &#34;However, we see risk to this outperformance over the next year, as we expect material negative [estimate] revisions driven by weaker consumer demand.&#34;</p><p>Apple shares have declined 20% so far this year, as the S&amp;P 500  has fallen 24% and as the S&amp;P Composite 1500 Information Technology sector has declined 31%.</p><p>The stock is down 4.91% in Thursday&#39;s session.</p><p>Mohan worries about potential weakness in the iPhone 14 cycle given the economic pressures on consumers, particularly in Europe. While some analysts have been upbeat about the performance of the company&#39;s higher-priced iPhone 14 Pro models even as base-level iPhone 14 models seem to be disappointing, Mohan said that a stronger mix of Pro models won&#39;t be able to offset declines in revenue or profits if overall unit sales fall.</p><p>Additionally, he sees &#34;incremental risk of deceleration&#34; for the company&#39;s services business and worries that the iPad segment could see a &#34;reversion to pre-COVID levels.&#34; The Mac business could &#34;partially&#34; revert back to pre-pandemic levels, Mohan continued.</p><p>Then there are the challenges Apple faces from the stronger U.S. dollar. &#34;[W]hile hedges/pricing provide some offset, demand destruction is likely,&#34; Mohan wrote.</p><p>In his latest note, he took the opposite view of Rosenblatt Securities analyst Barton Crockett, who upgraded Apple&#39;s stock Thursday. Crockett was more upbeat about demand dynamics in the iPhone business, writing of strong consumer buying intent, especially for the Pro line, based on the results of his recent U.S. consumer survey.</p><p>Move over, TikTok: Social media has &#39;a new king in town&#39; in BeReal</p><p>Analysts on the whole remain overwhelmingly bullish on Apple shares: Just three of the 41 analysts tracked by FactSet who cover the stock have sell ratings, while six have hold ratings and 32 have buy ratings. The average price target listed on FactSet is $181.92, nearly 28% above current levels.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4571":"数字音乐概念","BK4566":"资本集团","BK4575":"芯片概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4501":"段永平概念","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4207":"综合性银行","BK4574":"无人驾驶","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4504":"桥水持仓","BK4170":"电脑硬件、储存设备及电脑周边","BAC":"美国银行","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","AAPL":"苹果","BK4553":"喜马拉雅资本持仓","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2271021710","content_text":"Apple shares have beaten the S&P 500 so far in 2022, but analyst sees 'risk to this outperformance' heading into company's next fiscal yearApple Inc. has beaten the broader technology industry this year, but a Bank of America analyst isn't sure that the stock can keep it up.Analyst Wamsi Mohan downgraded Apple's stock $(AAPL)$ to neutral from buy Thursday, writing that demand trends could worsen heading into the new fiscal year.\"Shares have outperformed significantly [year to date]...and have been perceived as a relative safe haven,\" he wrote. \"However, we see risk to this outperformance over the next year, as we expect material negative [estimate] revisions driven by weaker consumer demand.\"Apple shares have declined 20% so far this year, as the S&P 500  has fallen 24% and as the S&P Composite 1500 Information Technology sector has declined 31%.The stock is down 4.91% in Thursday's session.Mohan worries about potential weakness in the iPhone 14 cycle given the economic pressures on consumers, particularly in Europe. While some analysts have been upbeat about the performance of the company's higher-priced iPhone 14 Pro models even as base-level iPhone 14 models seem to be disappointing, Mohan said that a stronger mix of Pro models won't be able to offset declines in revenue or profits if overall unit sales fall.Additionally, he sees \"incremental risk of deceleration\" for the company's services business and worries that the iPad segment could see a \"reversion to pre-COVID levels.\" The Mac business could \"partially\" revert back to pre-pandemic levels, Mohan continued.Then there are the challenges Apple faces from the stronger U.S. dollar. \"[W]hile hedges/pricing provide some offset, demand destruction is likely,\" Mohan wrote.In his latest note, he took the opposite view of Rosenblatt Securities analyst Barton Crockett, who upgraded Apple's stock Thursday. Crockett was more upbeat about demand dynamics in the iPhone business, writing of strong consumer buying intent, especially for the Pro line, based on the results of his recent U.S. consumer survey.Move over, TikTok: Social media has 'a new king in town' in BeRealAnalysts on the whole remain overwhelmingly bullish on Apple shares: Just three of the 41 analysts tracked by FactSet who cover the stock have sell ratings, while six have hold ratings and 32 have buy ratings. The average price target listed on FactSet is $181.92, nearly 28% above current levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":215,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}