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Apple Delivered Much Better-Than-Feared 'Jalen-Brunson-Like' Quarter, Says Bullish Analyst: Why Betting Against Cupertino Is A 'Wrong Move'
Apple, Inc.’s (NASDAQ:AAPL) second-quarter earnings announcement catalyzed a strong upward move in the stock in premarket on Friday. A bullish analyst offered his take on the tech giant’s quarterly results.
Impressive Quarter: Wedbush analyst Daniel Ives was visibly impressed. While the Street was bracing for a brutal March quarter, Tim Cook‘s iPhone giant delivered a “much better than feared Jalen Brunson-like quarter,” he said.
Ives noted that the headline results beat Street estimates and iPhone sales were generally in line. “The star of the show was June guidance calling for low single-digit growth vs. the Street’s whisper numbers looking for a decline.”
The guidance implied that iPhone demand could be starting to slowly turn the corner in China and the Services segment remained robust, the analyst said. He now thinks ...