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Apple (AAPL) Shares Gain on Strong iPhone 14 Pro Max Demand
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Apple’s (AAPL - Free Report) shares increased 3.85% to close at $163.43 on Sep 12, following strong pre-order data for its latest iPhone 14 devices, particularly the iPhone Pro Max. Per Bloomberg data, this was Apple’s biggest one-day gain since May 27.
Apple unveiled four new iPhone models — iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max — on Sep 7, at its biggest product launch event of the year. The company also launched the next-gen Airpods Pro, the Apple Watch Series 8, the new Apple Watch SE, Apple Watch Ultra and updates to Fitness+ at the event.
Apple’s 5G-supported iPhone 14 (6.1-inch) and iPhone 14 Plus (6.7-inch) are powered by the A15 Bionic chip with a 5-core GPU and feature an eSIM. The iPhone Pro (6.1-inch) and Pro Max (6.7-inch) models feature Dynamic Island (a new design) and the Always-On display. These models are powered by an A16 Bionic chip.
Apple enhanced the safety features of iPhone 14 models with the introduction of Crash Detection and Emergency SOS via satellite. The latter feature will be available to users in the United States and Canada in November, and the service will be free for two years.
iPhone 14 Pro and iPhone 14 Pro Max will be available in four colors, deep purple, silver, gold, and space black. iPhone 14 Pro and Pro Max will be available beginning Sep 16. iPhone 14 and iPhone 14 Plus will be available in five new colors — midnight, blue, starlight, purple and red — beginning Oct 7.
Apple has been struggling in 2022, primarily due to coronavirus-induced supply-chain disruptions, industry-wide silicon shortage, unfavorable forex and the Russia-Ukraine conflict.
The near-term outlook is not enthusiastic, given the headwinds. Apple did not provide revenue guidance for the third quarter of fiscal 2022. Apple expects COVID-induced supply chain disruptions and the industry-wide silicon shortage to hurt its top line by $4-$8 billion. Unfavorable forex is also expected to hurt revenues by 300 basis points (bps).
Moreover, the absence of revenues from Russia is expected to hurt the top line by 150 bps. Apple paused all sales in Russia during the fiscal second quarter (March quarter).
Nevertheless, the strong pre-order data for iPhones is encouraging for Apple. The company also released iOS 16 for iPhone users. The latest version offers features including new edit, undo send, and mark conversations as unread features as well as a completely customizable lock screen.
Apple TV+ Gains More Recognition
Apple is expected to benefit from the strong momentum of the Services portfolio, of which Fitness+ and Apple TV+ are a part. This Zacks Rank #3 (Hold) stock had more than 860 million paid subscribers across its Services portfolio at the end of the fiscal third quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple TV+’s hit show – Ted Lasso – won an Emmy for Outstanding Comedy Series. Jason Sudeikis also won an Emmy for Lead Actor.
Apple TV+’s growing recognition bodes well for the Services segment. The streaming service faces stiff competition from the likes of Netflix (NFLX - Free Report) , Disney’s (DIS - Free Report) Disney+, Warner Bros. Discovery’s (WBD - Free Report) HBO Max, Amazon Prime Video, Peacock and Paramount+.
At this year’s Emmy, Netflix won 26 awards but trailed HBO Max, which won 37. Apple TV+ won a total of seven awards while both Disney+ and Amazon Prime Video won six each.
Shares of the iPhone maker have been down 8% year to date. Nevertheless, the stock has managed to outperform the Zacks Computer & Technology sector’s decline of 27.1%. Shares of Netflix, Disney and Warner Bros. Discovery are down 60.8%, 24.9% and 43.5% year to date, respectively.
Netflix and Disney+ are set to bring a cheaper ad-supported tier to attract new users. Apple TV+, at a much affordable $4.99, is benefiting from quality content with its strong portfolio of original shows and movies. Its upcoming original movies include The Greatest Beer Run Ever starring Zac Efron, Causeway starring Jennifer Lawrence and Spirited starring Will Ferrell and Ryan Reynolds.
Apple TV+ has been signing deals with the likes of Maya Rudolph's production company, Animal Pictures, Scott Free Productions, Appian Way, Sikelia Productions and Green Door Pictures to build its content portfolio.
Apple TV+ also won exclusive rights to broadcast Major League Soccer worldwide for 10 years, starting from 2023.
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Apple (AAPL) Shares Gain on Strong iPhone 14 Pro Max Demand
Apple’s (AAPL - Free Report) shares increased 3.85% to close at $163.43 on Sep 12, following strong pre-order data for its latest iPhone 14 devices, particularly the iPhone Pro Max. Per Bloomberg data, this was Apple’s biggest one-day gain since May 27.
Apple unveiled four new iPhone models — iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max — on Sep 7, at its biggest product launch event of the year. The company also launched the next-gen Airpods Pro, the Apple Watch Series 8, the new Apple Watch SE, Apple Watch Ultra and updates to Fitness+ at the event.
Apple’s 5G-supported iPhone 14 (6.1-inch) and iPhone 14 Plus (6.7-inch) are powered by the A15 Bionic chip with a 5-core GPU and feature an eSIM. The iPhone Pro (6.1-inch) and Pro Max (6.7-inch) models feature Dynamic Island (a new design) and the Always-On display. These models are powered by an A16 Bionic chip.
Apple enhanced the safety features of iPhone 14 models with the introduction of Crash Detection and Emergency SOS via satellite. The latter feature will be available to users in the United States and Canada in November, and the service will be free for two years.
iPhone 14 Pro and iPhone 14 Pro Max will be available in four colors, deep purple, silver, gold, and space black. iPhone 14 Pro and Pro Max will be available beginning Sep 16. iPhone 14 and iPhone 14 Plus will be available in five new colors — midnight, blue, starlight, purple and red — beginning Oct 7.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
New iPhones to Boost Apple’s Prospects
Apple has been struggling in 2022, primarily due to coronavirus-induced supply-chain disruptions, industry-wide silicon shortage, unfavorable forex and the Russia-Ukraine conflict.
The near-term outlook is not enthusiastic, given the headwinds. Apple did not provide revenue guidance for the third quarter of fiscal 2022. Apple expects COVID-induced supply chain disruptions and the industry-wide silicon shortage to hurt its top line by $4-$8 billion. Unfavorable forex is also expected to hurt revenues by 300 basis points (bps).
Moreover, the absence of revenues from Russia is expected to hurt the top line by 150 bps. Apple paused all sales in Russia during the fiscal second quarter (March quarter).
Nevertheless, the strong pre-order data for iPhones is encouraging for Apple. The company also released iOS 16 for iPhone users. The latest version offers features including new edit, undo send, and mark conversations as unread features as well as a completely customizable lock screen.
Apple TV+ Gains More Recognition
Apple is expected to benefit from the strong momentum of the Services portfolio, of which Fitness+ and Apple TV+ are a part. This Zacks Rank #3 (Hold) stock had more than 860 million paid subscribers across its Services portfolio at the end of the fiscal third quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple TV+’s hit show – Ted Lasso – won an Emmy for Outstanding Comedy Series. Jason Sudeikis also won an Emmy for Lead Actor.
Apple TV+’s growing recognition bodes well for the Services segment. The streaming service faces stiff competition from the likes of Netflix (NFLX - Free Report) , Disney’s (DIS - Free Report) Disney+, Warner Bros. Discovery’s (WBD - Free Report) HBO Max, Amazon Prime Video, Peacock and Paramount+.
At this year’s Emmy, Netflix won 26 awards but trailed HBO Max, which won 37. Apple TV+ won a total of seven awards while both Disney+ and Amazon Prime Video won six each.
Shares of the iPhone maker have been down 8% year to date. Nevertheless, the stock has managed to outperform the Zacks Computer & Technology sector’s decline of 27.1%. Shares of Netflix, Disney and Warner Bros. Discovery are down 60.8%, 24.9% and 43.5% year to date, respectively.
Netflix and Disney+ are set to bring a cheaper ad-supported tier to attract new users. Apple TV+, at a much affordable $4.99, is benefiting from quality content with its strong portfolio of original shows and movies. Its upcoming original movies include The Greatest Beer Run Ever starring Zac Efron, Causeway starring Jennifer Lawrence and Spirited starring Will Ferrell and Ryan Reynolds.
Apple TV+ has been signing deals with the likes of Maya Rudolph's production company, Animal Pictures, Scott Free Productions, Appian Way, Sikelia Productions and Green Door Pictures to build its content portfolio.
Apple TV+ also won exclusive rights to broadcast Major League Soccer worldwide for 10 years, starting from 2023.