Is Apple Stock a Buy Right Now? This Is What You Need to Know
13/11 02:53
Macro supply-chain pressures might have impacted Apple’s (AAPL) recent relatively disappointing FQ4 (September) print, but Tigress analyst Ivan Feinseth believes these issues are transitory.
In fact, the analyst thinks product demand, new product introductions, and “accelerating” Services should all keep the bears at bay.
It goes without saying, but Feinseth notes “demand is a good problem to have” and it is present for all of Apple’s “key products,” iPhone included. Despite global supply issues, the analyst expects the tech giant will “eventually ramp up production to meet what will continue to be extremely strong demand.”
Furthermore, in the quarter almost every segment boasted meaningful year-over-year growth which reached new heights. Record levels of advertising and payments revenue and record subscriptions for music, video, and cloud services were behind the Services strong display. Apple now counts more than 745 million paid subscribers, 160 million more than the company had a year ago, and a fivefold increase on the number of paid subscribers less than five years ago.