Despite menacing headwinds for iPhone in China, the firm still can better monetize its existing user base and we see Apple shares as undervalued.
We model fiscal 2019 to be down considerably, but we expect a solid recovery thereafter thanks to the proactive efforts of the key memory participants.
Longer term, we think Broadcom is part of the heavyweight class of chip leaders and boasts intangible assets.
Our fair value estimate remains unchanged for the narrow-moat firm.
Expectations of a more tepid holiday quarter have sent shares of the wide-moat firm lower, but we’d wait for a more attractive price before diving in.
Investors should find shares of the chip titan enticing after a record quarter.
We think customers will look past the nanometer headlines.
The smartphone titan is doubling down on its premium price strategy after raising the bar on price last year with the iPhone X.