Apple Shares Look Attractive
Our fair value estimate for the iPhone maker is unchanged as stronger services and wearables revenue should offset China weakness.
Our fair value estimate for the iPhone maker is unchanged as stronger services and wearables revenue should offset China weakness.
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.