Apple Reports Strong 3Q Earnings as We Anticipate the iPhone X; Raising FVE to $145 from $138
Apple reported strong fiscal third-quarter earnings with notable strength in iPad unit sales and services revenue, while premium iPhone sales (iPhone 7 and 7 Plus) held up well during the usual summer lull before new iPhone launches in the Fall. The company also provided a fiscal fourth-quarter outlook that may have alleviated some investor concerns about production delays for Apple's upcoming ultra-premium iPhone (which we'll name "iPhone X"). All in all, we will raise our fair value estimate b...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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