Apple Inc
AAPL: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$748.00 | Cqqj | Nnrctkdg |
Apple Earnings: Steady iPhone Demand, While Services and Gross Margins Steal the Show
Wide-moat Apple reported solid fiscal fourth-quarter results while providing investors with a decent fiscal first-quarter outlook with revenue in line with our expectations, but modestly below FactSet consensus estimates, which we think contributed to the 3% selloff in shares after hours. We maintain our $150 fair value estimate and view shares as modestly overvalued as we don’t foresee massive hardware growth out of existing products like the iPhone in the years ahead.