BoA backs Apple, upbeat on its finances and growth.


Apple Inc. is set to release its latest financial report soon, and the current market sentiment towards Apple's situation and earnings is predominantly pessimistic. However, Bank of America holds a contrary view.

Apple Inc. is set to officially release its second-quarter financial report next week. Ahead of this, there has been widespread pessimism about Apple's performance in the market, with the stock experiencing a significant drop. However, on Monday, Apple's stock price finally increased by 0.51%, recovering slightly from a 6.5% fall the previous week. Since the beginning of the year, Apple's stock has fallen by more than 10%, making it one of the worst-performing major tech companies.

Contrary to the prevalent market pessimism, Bank of America is optimistic about Apple's report, labeling it as a top pick for 2024. They believe Apple has good earnings potential and a promising future.

However, Bank of America's support is not without reservations. They think it's unlikely for Apple to see a sharp and immediate rebound due to the overall weak demand environment in the market, predicting the stock price might fluctuate throughout the second quarter.

Morgan Stanley, on the other hand, holds a contrasting view to Bank of America. They expect Apple's stocks to continue to fall, suggesting next week's financial report could exacerbate the current pessimism instead of alleviating it. They predict Apple is likely to deliver a disappointing performance due to various reasons, such as sales growth issues in multiple countries and regions, legal problems related to regulations, and a lack of AI strategy and planning.

Despite the decrease in stock price, Apple's standing in the global tech industry remains unaffected. They continue to be one of the top giants in the technology sector. However, among analyses from various investment banks and analysts, only a moderate number recommend buying Apple's stock, in stark contrast to Microsoft, Nvidia, Amazon, and Google, where bullish sentiments reach 85% or higher.

Some analysts believe the current decline in Apple's stock price makes it an attractive option for many investors, making it more appealing due to the lowering stock prices.



Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End



Investing refers to the act of allocating funds or other resources into certain assets or projects with the expectation of obtaining future returns or benefits. The primary aim of investing is usually to enhance asset value, achieve financial goals, preserve and grow value, or accomplish a specific objective.

Related News

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.


Contact Us

Social Media