Apple Update ‘Good Enough for Now,’ Giving Wall Street a Sign of Relief
- Analysts positive on Apple’s September iPhone Sales guidance
- Tech giant shares are poised to retake highs last seen in May
An Apple store entrance in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Apple’s guidance for the all-important September quarter was cheered by Wall Street amid concerns about the impact on sales from the U.S.-China trade war and increasing competition from smartphone rivals. The positive commentary helped push the iPhone maker’s market value briefly above $1 trillion on Wednesday.
The tech giant’s results were “good enough for now,” Raymond James said in a note, while Goldman Sachs and Piper Jaffray raised their price targets. However, some analysts aren’t getting excited just yet, waiting instead for the release of Apple’s 5G-enabled phones, which aren’t likely to arrive before 2020.