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Apple Earnings Influenced by iPhone Upgrades

A Wall Street investment bank said on Tuesday that Apple will encounter a rise in earnings since the sales of iPhone XS series handsets. The company already rose 1.3 percentages.

Analyst Wamsi Mohan from the Bank of America Merrill Lynch estimated that the company income will grow more than expected next year.  His prediction about the cost target is 256 on Apple stock since the stock had an impressive record of 233.47 on October 3.

After the article published by the Bloomberg Businessweek about the possession of serves with spy chips bought from China’s government, by Apple and 30 other companies, the hedge fund Greenlight Capital announced that Apple has now purchased the company`s stake due to the Chinese pressure to the  U.S. tariffs.

Apple Earnings Influenced by iPhone Upgrades 1

The Apple Company first launched on September 21, iPhone XS and iPhone XS Max handsets and after a week of selling on October 26, the XR version will be available.

A survey showed 91,000 consumers in the time period from March to September. 70% of iPhone users were clear and convinced that they will not change the company in their future smartphone purchase while 15% want to go for Samsung’s Galaxy smartphones. The results also showed that 33% of people are looking forward to upgrading to iPhone.

Jim Suva, Citi analyst went from 230 to 265 for the target price on Apple stock since he estimated Apple income for fiscal 20 fiscal 2019 from $13.92 to $14.43.

“We increase our financial model primarily due to higher ASPs and stronger gross margins gave the consumer preference for higher memory configurations of iPhones coupled with the new falling memory prices,” he explained in a report.

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