apple-could-deliver-double-digit-services-growth,-says-5-star-analyst

Apple Could Deliver Double-Digit Services Growth, Says 5-Star Analyst

Bernstein expects Apple’s services segment to generate double-digit revenue growth for at least 2 to 3 years as other parts of the tech giant’s business may grow at a slower pace.

Toni Sacconaghi reiterated a Hold rating on Apple (AAPL) with a price target of $400 (13% downside potential) .” data-reactid=”13″ type=”text”>Nonetheless, Bernstein analyst Toni Sacconaghi reiterated a Hold rating on Apple (AAPL) with a price target of $400 (13% downside potential) .

“While we see many of Apple’s existing businesses (e.g. App Store, iCloud, and Apple Music) decelerating to high single digit growth as incremental penetration/increased ARPU [average revenue per user] becomes more challenging, we believe there is significant runway (to $7-12B in annual revenues) from Apple’s new services, which could be 300 – 600 bps accretive to the topline per annum… although execution is imperative,” Sacconaghi wrote in a note to investors.

Amit Daryanani maintained a Buy rating on the stock with a price target of $440 (4.3% downside potential). The analyst expects Apple to “modestly outperform the broader market,” and sees higher revenue growth into FY22 as iPhone X users upgrade.” data-reactid=”19″ type=”text”>Last week, Evercore ISI analyst Amit Daryanani maintained a Buy rating on the stock with a price target of $440 (4.3% downside potential). The analyst expects Apple to “modestly outperform the broader market,” and sees higher revenue growth into FY22 as iPhone X users upgrade.

price target of $433.54 implies downside potential of about 5.7%. (See AAPL stock analysis on TipRanks).” data-reactid=”20″ type=”text”>Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 22 Buys, 7 Holds, and 2 Sells. The average price target of $433.54 implies downside potential of about 5.7%. (See AAPL stock analysis on TipRanks).

Apple To Launch Cheaper Subscription Bundles To Boost Services – Report
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Wedbush Lifts Apple’s PT To ‘Street High’” data-reactid=”29″ type=”text”>Related News:

Apple To Launch Cheaper Subscription Bundles To Boost Services – Report

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Wedbush Lifts Apple’s PT To ‘Street High’

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