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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

APPLE

(AAPL)
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Apple : faces rise in iPhone costs

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05/16/2019 | 03:12am EDT

INTERNATIONAL - Apple could see the production costs for its flagship iPhone rise 2-3percent given the impact that trade tensions between the US and China are having on input materials like lithium batteries, according to Wedbush analyst Daniel Ives. Ives cautioned that the impact could easily get worse for Apple, which he described as the “poster child” for companies facing trade-related headwinds.

The company relies on Chinese labour for the production of nearly all of its devices, and it derived nearly 20percent of its 2018 sales from the Chinese market, according to data compiled by Bloomberg. If the Trump administration levies additional tariffs, “this would be more of a potential game-changer from the perspective of the incremental costs to Apple and its iPhone production,” Ives wrote.

Under this “more draconian scenario,” expenses could escalate “by roughly 10percent+ over time.” Last week, Morgan Stanley estimated that Apple’s fiscal 2020 earnings could drop by about 23percent in a worst-case trade scenario. Shares of Apple rose 1.1percent in pre-market trading. However, this comes after a three-day decline, including a 5.8percent slump in Monday’s session that was the company’s biggest one-day drop since January, when it cut its revenue forecast. Last week, Apple shares had their biggest weekly decline since December. Apple and chief executive Tim Cook are “seeing pressure on both ends of the spectrum”, Ives wrote.

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(c) The Mercury 1999 - 2019 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 257 B
EBIT 2019 62 658 M
Net income 2019 53 448 M
Finance 2019 97 532 M
Yield 2019 1,63%
P/E ratio 2019 15,95
P/E ratio 2020 14,34
EV / Sales 2019 2,89x
EV / Sales 2020 2,81x
Capitalization 841 B
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Technical analysis trends APPLE
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Mean consensus OUTPERFORM
Number of Analysts 39
Average target price 216 $
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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