Apple Shares Look Attractive
Our fair value estimate for the iPhone maker is unchanged as stronger services and wearables revenue should offset China weakness.
Mentioned: Apple Inc (AAPL)
Apple issued revised revenue guidance for its December quarter from $91 billion to $84 billion, which implies a 5% year-over-year decline.
The entirety of the shortfall was attributed to weaker iPhone demand in Greater China, while other regions and non-iPhone segments are faring better than expectations. In fact, non-iPhone segments combined to grow nearly 19% year-over-year
Abhinav Davuluri does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.