'Bendghazi' controversy not phasing sales, swift refutation by Apple credited
After falling four percent on Thursday, Apple's stock closed out the week by bouncing back and regaining more than half the drop as Wall Street reacted positively to the company's refutation of the "bending" controversy. Some new questions are being raised about the original video that started the kerfuffle, as careful observation reveals that the video was edited (and the reported noted in the video that his iPhone 6 was already slightly bent before demonstrating the flaw). Investment firms Stifel Nicolaus and BMO Capital Markets have both raised their target prices for AAPL.
Ignores developing markets, or Apple's other products
There is a tendency among analysts to think of Apple as only "the iPhone maker" and ignore its other products and services, feeling that the fortunes of its most popular and profitable product -- the iPhone -- is the key to the company's overall health, at least in terms of its performance on Wall Street. Barclay's analyst Ben Reitzes told investors in a memo on Thursday that he expects AAPL to stay within a narrow range for the next two years.
Wells Fargo, Morgan Stanley confident Apple will beat Street on iOS sales
Newly-released sales figures of the iPhone on Verizon in the calendar second quarter of 2013 may foretell surprising success for Apple in its core iPhone business, says UBS analyst Maynard Um. The analysis, which relies on Verizon maintaining about the same average of total iPhone sales as it has for the past year and a half, projects that Apple may have sold as many as 34.7 million iPhones between April 1 and June 30 this year, what Apple calls its fiscal third quarter. Wall Street consensus on Apple's Q3 iPhone sales calls for only 26.5 million units sold.
Analysts apparently taking Apple guidance more seriously now
Reports are surfacing that Apple may release a disappointing quarterly earnings report for investors on July 23. The consensus from 35 Wall Street pundits polled exactly matches the revenue from the year-ago quarter at $35.02 billion -- meaning zero revenue growth for the quarter, which is traditionally Apple's slowest. Apple itself said it would earn between $33.5 billion and $35.5 billion for the quarter, which ended on June 30.
Wall Street, government wants more of company's growing cash hoard
Despite moves to buy back shares in itself and the creation of a dividend program, Apple adds money to its enormous cash reserve far faster than it can distribute it -- a problem many companies would like to have, but one that is actually quite thorny for Apple. Wall Street appears to be orchestrating an effort -- or acting on insider information -- to put pressure on the company to make some kind of announcement for a future, additional dispersal of cash to investors. Meanwhile, governments have increased their calls for the "repatriation" of foreign-held profits.
Institutional buyers, others may have a fix in against AAPL
In the wake of considerable media backlash over a highly-questionable Wall Street Journal story claiming that Apple had cut back orders on iPhone parts to "half" previous levels -- a claim now clearly shown to be inaccurate -- AAPL has dropped to its lowest price in nine months, closing on Tuesday at $485.92 (though it is up to almost $490 in after-hours trading). Evidence has now emerged that some investors may be deliberately trying to suppress the stock.
Results to be reported in conference call on October 25
Guessing that strong opening-week sales of the iPhone 5 may offset customers who held back from buying in the three months prior, a quarterly roundup of analyst estimates (both Wall Street and independent) for how many iPhones were sold by Apple in the company's fiscal fourth quarter (which ended on September 30) has a mean average of 26.3 million units, slightly higher than the number sold in Q3. Because iPhones make up the bulk of the company's revenues, its sales are a leading indicator of how other products will do.
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Apple Wall St. shop plans
Apple is focusing in its hunt for an additional New York City store, according to the New York Post. "Sources" tell the newspaper that after having considered the linked locations of 15 Broad Street and 23 Wall Street, it is now concentrating on the latter, and in the middle of serious leasing negotiations with Robert K. Futterman and Associates. A representative for Apple at RKF, Karen Bellantoni, has declined to comment on the issue.