Stock Market News

Apple ‘Portfolio Has Never Been Stronger’ – Monness Crespi

2022.08.08 17:54

Apple 'Portfolio Has Never Been Stronger' - Monness Crespi
Apple (AAPL) ‘Portfolio Has Never Been Stronger’ – Monness Crespi

By Sam Boughedda

A Monness, Crespi, Hardt analyst told investors in a note Monday that Apple portfolio has “never been stronger and its platform more ubiquitous.” Still, he warned that the economy appears to be in a recession and the geopolitical landscape is “treacherous.”

The analyst, who has a Buy rating and a $174 per share price target on the stock, told clients in a note that with rival Samsung (KS:005930) hosting its Galaxy Unpacked event on Wednesday, competitors and Apple investors will be watching closely.

“In 2Q:22, IDC estimates Samsung held the top slot in the smartphone world with 21.8% market share based on shipment volumes, followed by Apple in the #2 position at 15.6%, and Xiaomi (1810.HK/Not Rated) in the #3 slot at 13.8%,” said the analyst. “Given the title of the event and video teaser, Samsung clearly has plans to introduce new foldable smartphone innovations. Multiple media outlets expect Samsung to unveil the Galaxy Z Fold4, Galaxy Z Flip4, and other gadgets.”

However, Monness Crespi feels that although Samsung has been a pioneer in hardware-related smartphone innovations, they believe Apple’s ability to develop hardware, software, and services that seamlessly work together has created a user experience that remains unmatched in the industry.

However, the analyst stated: “Next month, Apple’s annual iPhone event is expected. With a downtrodden economy, new spending priorities in a post-lockdown world, and stifling inflation, we believe consumers may be more reluctant to purchase Apple’s upcoming iPhone innovations, possibly waiting until this economic inferno has passed.”

Apple (NASDAQ:AAPL) shares are up 1.2% in early Monday trading.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 97,914.23 0.86%
ethereum
Ethereum (ETH) $ 3,416.31 2.03%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 256.78 0.16%
bnb
BNB (BNB) $ 656.39 3.16%
xrp
XRP (XRP) $ 1.45 9.05%
dogecoin
Dogecoin (DOGE) $ 0.435984 6.57%
usd-coin
USDC (USDC) $ 0.999901 0.01%
cardano
Cardano (ADA) $ 1.06 4.15%
staked-ether
Lido Staked Ether (STETH) $ 3,414.05 2.11%
tron
TRON (TRX) $ 0.213953 3.85%
avalanche-2
Avalanche (AVAX) $ 42.43 1.05%
the-open-network
Toncoin (TON) $ 6.43 17.08%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 4.11%
stellar
Stellar (XLM) $ 0.496362 26.45%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,039.91 1.96%
polkadot
Polkadot (DOT) $ 9.98 45.82%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,571.14 0.80%
chainlink
Chainlink (LINK) $ 18.15 9.05%
bitcoin-cash
Bitcoin Cash (BCH) $ 512.64 3.57%
weth
WETH (WETH) $ 3,414.71 2.25%
sui
Sui (SUI) $ 3.46 2.07%
pepe
Pepe (PEPE) $ 0.000021 0.21%
leo-token
LEO Token (LEO) $ 8.61 0.84%
near
NEAR Protocol (NEAR) $ 6.44 5.67%
litecoin
Litecoin (LTC) $ 100.24 7.15%
aptos
Aptos (APT) $ 12.98 4.76%
uniswap
Uniswap (UNI) $ 10.90 10.22%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,598.08 2.54%
hedera-hashgraph
Hedera (HBAR) $ 0.153111 0.32%
internet-computer
Internet Computer (ICP) $ 11.71 2.04%
crypto-com-chain
Cronos (CRO) $ 0.201566 8.03%
usds
USDS (USDS) $ 0.997169 0.90%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.590919 14.77%
ethereum-classic
Ethereum Classic (ETC) $ 29.91 2.75%
render-token
Render (RENDER) $ 7.85 3.34%
bittensor
Bittensor (TAO) $ 533.53 3.36%
kaspa
Kaspa (KAS) $ 0.15585 1.85%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.46 12.47%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
arbitrum
Arbitrum (ARB) $ 0.884229 7.41%
bonk
Bonk (BONK) $ 0.000048 2.01%
whitebit
WhiteBIT Coin (WBT) $ 24.75 0.41%
vechain
VeChain (VET) $ 0.043368 17.66%
dai
Dai (DAI) $ 0.999406 0.03%
cosmos
Cosmos Hub (ATOM) $ 8.77 14.20%
dogwifcoin
dogwifhat (WIF) $ 3.33 3.67%
filecoin
Filecoin (FIL) $ 5.54 12.64%
mantra-dao
MANTRA (OM) $ 3.68 4.97%
blockstack
Stacks (STX) $ 2.09 3.56%