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.
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.
Investment firm JP Morgan has trimmed its AAPL price target to $335 due to the expected fallout from social distancing and store closures having a larger than the previously-predicted impact on Apple's bottom line.
Following overnight supply chain reports suggesting that the A14 chip will see massive delays, J.P. Morgan's Gokul Hariharan casts serious doubt on the questionable report, but sees other factors potentially holding up the "iPhone 12" for up to two months.
The morning after Apple's record-breaking holiday quarter results were published, J.P. Morgan analysts are reconsidering the value of the company's business with a dramatic increase in Apple stock target price.
Investment bank J.P. Morgan is reiterating its favorable view on shares of Apple, Inc this week, saying it sees several catalysts to earnings upside in 2020 that could drive a further re-rating of the company's shares to a 20X price-to-earnings (P/E) multiple.
Apple will be launching four iPhone models with 5G in the second half of 2020, analysts from JP Morgan anticipate, with the group split into two pairs of smaller and larger models, but one pairing will include 3D sensing capabilities on the rear and support for the faster mmWave-based 5G connections.
Apple Stores are performing better than ever for the company's sales, analysis of Apple's 10-K filing by JP Morgan suggests, and at the same time Apple accelerated its rate for repurchasing shares in August, improving prospects for long-term investors by rebuying at opportunistic times.
Analysts have passed comment on Apple's record fourth quarter results for the fiscal year 2019, with investor expectations and analyst estimates being beaten in a variety of ways, though the lower iPhone revenue is suggested to be an indicator of challenging December quarter results.
Apple's launches of the iPhone 11 and iPhone 11 Pro range are doing better than analysts initially predicted, but investor excitement in the 2020 5G-equipped iPhone apparently continues to be far higher than the 2019 range.
The increase in lead times for the iPhone 11 suggests demand for the new iPhone models is higher than the supply chain anticipated, according to JP Morgan, with the lead time growth for the value-based model seemingly indicating consumers are not focusing their purchases on the higher-end models as was previously predicted.
Analysts are weighing in on Tuesday's "It's Innovation Only" iPhone 11 launch event, with positive sentiment from industry watchers over the pricing of Apple TV+ and Apple Arcade accompanying the largely-expected iPhone upgrades.
Tuesday's anticipated launch of new iPhone models isn't going to be a massively interesting event for investors, JP Morgan suggests, with "limited surprise" for the iPhone forcing most of the attention on pricing and other potential hardware launches.
Apple's suppliers are seeing higher levels of revenue ahead of the launch of new iPhone models expected in September, JP Morgan says, and despite volume shipment challenges, the iPhone is still managing to maintain its average selling price.