Another Downgrade for AAPL - MOSK: 01.05.2024

Mac OS Ken

Ken Ray

Technology

4.7 • 996 Ratings

🗓️ 5 January 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

- Piper Sandler Cuts Apple Rating and Price Target on iPhone Concerns - Evercore Sees Strength for App Store, Though Tough Compares Loom - Apple Card Savings Account APY Rises to 4.35% - Some See Syncing Problems with iPhone, Mac, and Apple Music - Public Testers Get Second macOS 14.3 Beta - New Fitness+ Content Coming Monday - Clicks: Physical Keyboard Add-On for iPhone - Jon Prosser and Front Page Tech Present Documentary on Apple and Tim Cook - "Killers of the Flower Moon" Hits Apple TV+ Next Week - Check Out the Latest Checklists by SecureMac - online at checklist.libsyn.com - Catch Ken on Mastodon - @macosken@mastodon.social - Chat with us in Patreon for as little as $1 a month. Support the show at Patreon.com/macosken - Send me an email: info@macosken.com or call (716)780-4080!

Transcript

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0:00.0	This is
0:06.0	this is Mac OS Ken.
0:08.0	By percentler downgrades Apple.
0:11.0	Evercore stays bullish.
0:14.0	And Killers of the Flower Moon gets an Apple TV plus date.
0:19.0	It is Friday the 5th of January, 2024 2024 I'm Ken Ray and this is news from Maco
0:27.4	S Ken brought to you by yours truly and supported by people like you patrons through Patreon.
0:37.0	Find out more in that your support at patreon.com slash Maco-West can.
0:46.4	Another day, another downgrade for Apple's shares.
0:50.2	It seems some have returned to a mindset
0:52.1	where Apple is a one-trick pony.
0:54.0	That one trick is iPhone, and it sort of played for the moment, according to Piper Sandler analyst Harsh Kumar.
1:01.0	Apple 3.0 ran pieces of a note he wrote wherein he dropped his rating on the shares from overweight to neutral.
1:10.0	He also cut $15 off his price target on the shares.
1:14.8	In making the cuts, Kumar said he and his are concerned about handset inventories entering
1:19.9	into the first half of 2024 and also feel that growth rates have peaked for unit
1:25.3	sales. Handsets are roughly 51% of Apple's total revenue. But wait, there's more. The analyst says
1:35.6	deteriorating macro environment in China could also weigh on handset business,
1:40.9	headwinds due to negative news around both the watch and other ongoing legal
1:45.7	battles could be a distraction. And difficult compares from 2023 paired with constant currency headwinds are expected to continue in the first half of this year with interest rates remaining elevated
1:59.9	So neutral and $15 off expectations.
2:05.0	Though the remaining target by itself might make you think he'd kept the overweight rating.
	...

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