Apple Delivered Much Better-Than-Feared 'Jalen-Brunson-Like' Quarter, Says Bullish Analyst: Why Betting Against Cupertino Is A 'Wrong Move'
Portfolio Pulse from Shanthi Rexaline
Apple, Inc. (AAPL) reported Q2 earnings that exceeded expectations, with strong guidance for low single-digit growth, a significant $110 billion buyback, and an upcoming AI strategy announcement. Wedbush analyst Daniel Ives highlighted the better-than-expected performance, particularly in China and the Services segment, and anticipates a growth renaissance driven by an AI-driven super-cycle. Ives maintains an Outperform rating and a $250 price target for AAPL, which saw a 6.51% premarket increase to $184.29.
May 03, 2024 | 1:01 pm
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Apple's Q2 earnings surpassed expectations with a promising outlook, a $110 billion buyback, and an AI strategy reveal, driving a 6.51% premarket stock increase.
Apple's better-than-expected Q2 earnings, coupled with strong future guidance and a significant buyback, signal robust financial health and strategic direction. The anticipation of an AI-driven super-cycle further enhances investor optimism, likely contributing to short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100