Some analysts are raising concerns that Apple's 2019 slate of services are off to a slower start than originally anticipated, but how much that may impact Thursday's earnings isn't clear.
Ahead of a "big week" for Apple, investment bank Wedbush is expecting the company to report June quarter earnings that exceed Wall Street expectations, with an impressive "iPhone 12" being the firm's "favorite 5G play."
Investment bank Cowen is expecting Apple to report June quarter earnings in-line with the larger Wall Street consensus, and adds that Services and the upcoming 5G "iPhone 12" will boost the company's momentum going forward.
Ahead of Apple's July 30 earnings report, Investment bank Morgan Stanley believes the company's June quarter earnings will widely beat Wall Street expectations.
Investment bank Needham is raising its AAPL price target to $450 on the strength of Apple's Services and Wearables sectors and its commitment to privacy.
Apple is reportedly shifting its Apple Arcade development strategy by looking for titles for higher levels of "engagement," while dropping some existing contracts.
Investment bank Wedbush has raised its AAPL price target to $425 and claims that Apple could hit a $2 trillion price valuation in 2021.
Investment bank Cowen is raising its AAPL price target to $400 based on new iPhone shipment forecasts, revised multiples and the impact of ARM Macs to Apple's bottom line.
Apple has officially launched new options for interest-free Apple Card financing on more of its products, including Macs, iPads and various accessories like the Apple Pencil and AirPods.
A mix of rock-solid services performance and an expected "iPhone 12" super-cycle have led Wedbush analysts to raise the bank's Apple price target to $375.
Investment bank Morgan Stanley has raised its Apple price target to $340, citing strong App Store performance and a broader upside to Services.
With a current valuation of $1.4 trillion and climbing, analyst Amit Daryanani thinks the world's most valuable company could be the first to hit $2 trillion.
Last March, analysts and tech bloggers dumped out arrogant contempt over Apple's latest product introduction. This year, those new offerings helped save Apple's Q2 earnings and are projected to bolster its June quarter performance despite the pandemic.
While Apple is not offering earnings guidance for its third fiscal quarter of 2020, company CFO Luca Maestri said he expects revenues from iPhone, wearables and certain services to suffer a sequential decline in the coming June quarter.
While the coronavirus has affected Apple's earnings, its overall second quarter results are better than predicted because of the company's increasing reliance on wearables and services.
Music streaming subscriptions were up 32% globally last year, with Apple Music maintaining a comfortable second place position behind Spotify, according to newly published estimates.
Apple has inked new deals with some of the world's largest record labels for Apple Music, though the terms of the company's agreements suggest that a combined services bundle is still distant.
It did seem as if 2019 became Apple's Year of Services — not only did it launch so many new ones in splashy events, it also shunted major hardware announcements off into sidelined press releases. We'll have to see how Apple handles hardware in 2020, but this much is certain — Apple is not done with services.
While the coronavirus is still having a big impact on China iPhone production, and the smartphone market as a whole, Morgan Stanley sees the impacts as mostly timing problems for Apple, and are buyers, maintaining a $368 stock price target.
Apple Edge Cache is a new service that enables better content delivery to end users with Apple-managed servers inside an internet provider's network.
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Mike Peterson
Daniel Eran Dilger
AppleInsider Staff
William Gallagher
Mike Wuerthele
Wesley Hilliard
