Apple Still Cruising Along While Shifting to (Net Cash) Neutral; Raising FVE to $170
Apple reported strong fiscal first-quarter results, thanks to record average selling prices, or ASPs, associated with the firm’s latest iPhone X. The company’s second-quarter forecast was predictably weak, in light of mounting evidence regarding lower iPhone X production in the March quarter (as we wrote about on Jan. 30). However, the near-term outlook for Apple isn’t catastrophic either, and more importantly, we still see few signs that any slowdown at Apple is due to customers switching away ...
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