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Apple Shares Look Attractive

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

Apple Shares Look Attractive
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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

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Abhinav Davuluri does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.