Today's winner of the prestigious CLoD is analyst Neil Campling, delivered to us by FT Alphaville's Markets Live:
"...Thought: Don’t look over there… look over there. 65% of the business
might rely on one key driver (aka iPhones) which is in severe decline
(iPhone sales fell 17% YoY in the quarter) so the company has been
trying to divert attention to services as the key high growth driver of
the future. But these other services of app sales, streaming sales etc.
only grew 16% YoY. It isn’t at the hyper growth level it needs to be...."
Just in case anyone missed the magician's misdirection move, Apple headlined their earnings press release:
Services Revenue Reaches New All-Time High of $11.5 Billion
The entire ML discussion of Apple's results is first rate with guest appearances by Goldman and Credit Suisse as well as running commentary by Bryce and Jamie (and the rabble)
Markets Live Wednesday, 1st May 2019
As Apple is a component of the Dow Jones Industrials, its $10.35 (5.16%) pre-market uptick, to $211.02, is worth around 70 points to the DJIA.
