What the talking heads are saying about Apple's solid March quarter (video)

From the video clips I've seen. More as they come in.

Steve Kovach, CNBC:

Daniel Ives, Wedbush:

Toni Sacconaghi, Bernstein:

Stephanie Link, Hightower:

Gene Munster, Loup Ventures:

Tom Forte, Davidson:

12 Comments

Greg Lippert said:

And…. The stock falls…. Ha!!!!

4

April 29, 2022
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Tommo_UK said:

Lack of component supply chain issues must equal crashing demand?
>shrug<

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April 29, 2022
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Aaron Belich said:

Stock falling is pretty typical after Apple earnings. “Sell the news” combined with algos and option traders hoping to make a quick buck.

I picked up some more shares yesterday, and will probably reach for more come mid-end of May.

Glory to the Longs!

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April 29, 2022
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- David Emery said:
  
  You have to look at AAPL vs an index, to determine if Apple really fell, or if it was just carried down by the market. Today, AAPL is down 3.59%, compared to S&P 3.63% or NASDAQ 4.17%, but less than Dow 2.77%.
  
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  April 29, 2022
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  - Joseph Bland said:
    
    Good point, David. Apple generally tracks the S&P 500 of late, unless it pulls away to the upside sharply. Today it’s almost perfectly aligned. Volume was well over average.
    
    Monday will be – interesting….
    
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    April 29, 2022
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    - Robert Paul Leitao said:
      
      Joe: Apple is a heavily weighted component of the S&P 500. With a few other mega caps, Apple has a “gravitational pull” on the index and will heavily influence its direction. I view it more as the “S&P 10 and 490 other equities.” The last I checked, Apple and Microsoft represented nearly 13% of the index weighting and the top 10 stocks collectively represented nearly one-third of its weighting. The index is likely to reflect the share price activity of the 10 equities with the other 490 components coming along for the ride. I’m not surprised you are seeing the index track fairly closely to Apple’s performance over time.
      
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      April 29, 2022
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      - Joseph Bland said:
        
        I get that, but it really misses the point, which is that this is a macro issue for the most part, with the caveat that Apple has more exposure in China than most.
        
        But does anyone other than me remember the last two times China “sunk” AAPL, and what the really smart move would have been both times? Yep. Salt away a bunch more cheap AAPL!
        
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        April 30, 2022
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  - Robert Paul Leitao said:
    
    David: As I commented to Joe, I don’t think the S&P 500 is an adequate comparable for Apple in part due to the company’s heavy weighting in the index. Second, Apple really is in an asset class of its own. Aside from the DJIA (of which Apple is a component) I’d choose a basket of the top weighted enterprises in the S&P 500. They are: Apple, Microsoft, Amazon, Alphabet, Tesla, Nvidia, Berkshire, Meta and United Health.
    
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    April 29, 2022
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    - David Emery said:
      
      Someone with access to the requisite data should calculate this index and see how it compares to AAPL. It’s an interesting set of choices.
      
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      April 30, 2022
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Joseph Bland said:

Here’s the reality:

As has been the case all year long, even Apple isn’t immune to the macro environment. What is the impact?

Apple’s cumulative EPS equals $6.32/share. (Assuming 100M shares were removed, share count would drop to about 16.22B.)

At the present price of ~$160/share, P/E drops to (160/6.32=) 25.32

BTW, an alternative P/E would assume the present share count. That is, add net income from all four quarters, then divide that by the present share count. What you’ll see is a much higher yearly EPS in terms of today’s share count. And as EPS increases, at any given price, P/E decreases. So that 25.3 P/E is actually misleadingly high…

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April 29, 2022
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- Joseph Bland said:
  
  “So that 25.3 P/E is actually misleadingly high…“
  
  IOW, that’s further proof that AAPL is a MASSIVE BARGAIN right now..,.
  
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Rick Povich said:

I got a chuckle from the chyron on Sacconaghi’s freeze-frame compared to the others. Standard Toni 🙂

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April 29, 2022
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