Analyst cuts Apple target Tuesday, makes bull case Friday (video)

"The most attractive value proposition Apple has is a growing billion-plus iPhone user base." -- KeyBanc analyst Brandon Nispel

From "Apple is relatively well-positioned due to the iPhone and a growing user base, says Keybanc's Nispel" which aired Friday on CNBC:

Brandon Nispel, Keybanc Capital Markets, joins 'TechCheck' to discuss whether Wall Street is too optimistic on Apple's stock, what he expects from Apple's earnings results and more.

My take: No "let's go Brandon" jokes, please.

8 Comments

  1. Fred Stein said:
    Starting in 2023, 3nm chips drive yet another upgrade cycle across all devices. Maybe 3D viewing opens a new device class. That ensures excellent cash flow for years to come.

    5
    July 16, 2022
    • Rodney Avilla said:
      Your perspective of Apple’s silicone for at least the last couple of years, has been informative. It definitely makes me feel good about the future.

      1
      July 16, 2022
  2. Robert Paul Leitao said:
    KeyBanc’s revised price target implies 15% upside in a very challenging market environment. As interest rates rise through increases in the Fed funds rate and the runoff (even gradually) of the Fed’s balance sheet, the present value of future earnings is diminished. In general, this will put pressure on earnings multiples. Add to that pressure on earnings from forex headwinds and shareholders may need to be patient for the next several months. Global economic growth is slowing. However, Apple’s product and services matrix has never been this robust or expansive. Share prices don’t move up in a straight line. The question is: Is there greater potential upside to the share price looking out a year or greater downside? I think we know the answer. In other words, is it a greater risk being out of the shares or holding the shares through a challenging market environment? At this time, I wouldn’t “bet” against Apple. That’s just my view. Your mileage may vary. Please do your own research and see if you come to the same conclusion.

    5
    July 16, 2022
    • Kirk DeBernardi said:
      RPL —

      Conclusion: Hold.

      As ever before.

      0
      July 16, 2022
      • Robert Paul Leitao said:
        Kirk: From my vantage point there’s greater risk being out of the shares than being in the shares. I expect the market to respond positively when the Fed finishes it overt tightening cycle. Additionally, there’s the prospect of new products and services from Apple within the next 12 months. In my research, much more is gained through perseverance in a bear market episode than attempting to time a market. Quality matters. Fundamentals matter. We’ve been to this rodeo before.

        0
        July 16, 2022
  3. Steven Philips said:
    Apple has mostly held through the rounds of tightening. I agree that once there is a signal that this is letting up there will be a substantial move back into the stock.

    0
    July 17, 2022

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