2020-07-28 21:35:21, finanzen.net GmbH, markets.businessinsider.com
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/Finance/Investing
/News/Business News/Financial Markets News
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Strong earnings appear to be priced into Apple stock, which has surged more than 26% this year, JPMorgan analysts led by Samik Chatterjee wrote in a Monday note.
Following a more than 26% rally in Apple shares this year, strong earnings appear to be priced in, according to JPMorgan.
"We believe investors looking for further upside have to focus on the longer-term earnings trajectory rather than expect near-term upside, as the likelihood of an earnings beat in F3Q (Jun) as well as strong early 5G cycle volumes (driving upside to calendar 2H20 estimates) appear to be priced in," said Chatterjee.
The firm doesn't expect Apple to give a guidance for fourth quarter earnings or provide much insight on the timing of its next launch, but doesn't see this being a huge problem for investors looking at the long-term trend.
But now, "We believe investors looking for further upside have to focus on the longer-term earnings trajectory rather than expect near-term upside, as the likelihood of an earnings beat in F3Q (Jun) as well as strong early 5G cycle volumes (driving upside to calendar 2H20 estimates) appear to be priced in," said Chatterjee.
Keywords
iPhone SE, Apple, s&p 500, apple stock price, AAPL, Apple Earnings Preview, JPMorgan, Apple stock, apple earnings, Earnings, iPhone 11, earnings 2020, iPhone
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