From Morningstar: 2024-08-01 20:09:00

Morningstar raised Apple’s fair value estimate to $185 from $170 due to increased medium-term iPhone revenue forecast. Expect strong revenue growth in fiscal 2025 as users upgrade for generative artificial intelligence features. Morningstar Rating: 2 stars, Economic Moat Rating: Wide, Uncertainty Rating: Medium. However, shares deemed overvalued. iPhone expected to drive growth in 2026.

Apple’s September-quarter guidance projects 5% YoY revenue growth, including double-digit services revenue growth. Anticipate low-single digit iPhone revenue increase. iPhone 16 lineup set to release in September to boost fiscal 2025 growth with new generative-AI features. Memory chip content needed for Apple Intelligence available on iPhone 16 models, enhancing unit sales and pricing.



Read more at Morningstar: Apple Earnings: Sales Impress But Stock Still…