Investment bank Wedbush is raising its Apple price target to $350 on what it describes as a robust performance by the company's services, plus prospects of recovering demand and the highly anticipated "iPhone 12."
Early in the Q2 2020 Apple financial results conference call, CEO Tim Cook commented on COVID-19 and its impact on the company. While acknowledging how the quarter was originally shaping up to be very different, Cook expressed confidence in the iPhone maker's ability to bounce back from the pandemic.
Apple will be announcing its financial results for the second quarter of 2020 on Thursday, but the ongoing COVID-19 pandemic is likely to result in considerably weaker results than usual. Here are what some analysts monitoring Apple and the coronavirus situation expect to hear during the filing and conference call.
Gene Levoff, Apple's former senior director of corporate law, continues to fight charges of insider trading and on Monday asked that his indictment be dismissed citing an argument of constitutionality.
Citing a trio of trends it expects to power Apple through the ongoing COVID crisis, investment bank JP Morgan on Monday recommended that investors use any post-earnings recalibration of the company's share price to make incremental adds to their existing positions.
Veering on the side of caution, investment bank Goldman Sachs said Friday it's cutting its rating and price target on shares of Apple amid mounting uncertainty over the impact of COVID-19 on near-term consumer spending on items such as iPhones.