Toni Sacconaghi: ‘People don’t want iPhones this cycle’ (video)
May 15, 2019 by Steven M. Peters
Bernstein’s top Apple analyst says the next cycle won’t start before late 2020.
Found in the CNBC archives from May 1. Missed it the first time around.
From Sacconaghi, defending his underwater valuation:
I don’t want to detract any credit from what Apple has done with the services business. They’ve built a $40-plus billion dollar business that’s growing in the mid-teens, which is a real testament to execution and their vision for what this business can be. That said, if your profits are down 16% you have a business that’s intrinsically cyclical.
Cyclically, people are saying, this is not a phone at this price that we want this cycle.
Maintains Market Perform rating and $190 price target.
My take: Toni Sacconaghi can argue it round or flat.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.