Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

HSBC takes bearish stance on Apple TV+, downgrades the stock

Proactive Investors Wednesday, 10 April 2019
Apple Inc. (NASDAQ:AAPL) was downgraded to the equivalent of sell by an HSBC analyst who called the iPhone maker “late to the game” with its new media offerings.   Erwan Rambourg cut the iPhone maker’s rating to Reduce from Hold in a research note Wednesday. The analyst, however, raised his price target to $180 from $160 — nearly 10% lower than the company’s Tuesday closing price. Apple shares were flattish at $199.64 at midday. READ: Apple maintained at Outperform as Wedbush says streaming service could attract 100M customers Rambourg credited the tech titan’s unveiling of Apple TV+ and other services including Apple News+, Apple Arcade and the Apple Card. However, the note was bearish about the company’s ability to generate returns from those services anytime soon. “While the new offerings may garner consumer attention, we do not expect these services to move the needle significantly,” Rambourg wrote. “We believe Apple has come too late to the game.” HBSC was also doubtful that the offerings would convert enough new customers to Apple products, even if it did increase loyalty among their existing ones. The note estimates the services will represent 4% of Apple’s valuation, hence the uptick in price target. Contact Andrew Kessel at [email protected] Follow him on Twitter @andrew_kessel
0
shares
ShareTweetSavePostSend
 
Credit: TechnoBuffalo VAN - Published < > Embed
News video: Do You Still Trust Apple?

Do You Still Trust Apple? 10:16

Get started with Dashlane: https://www.dashlane.com/jon10% off premium with the code "Jon"AirPower is officially dead. This isn't the first time Apple has struggled getting a product to market but is the cancellation a sign of bigger problems happening at Apple HQ? Let's take a look at what happened...

You Might Like


Recent related videos from verified sources

Should Apple Buy Up a Hollywood Studio? [Video]Should Apple Buy Up a Hollywood Studio?

Apple has a lot of cash to spend, and some investors have mused that the iPhone maker could use it to flesh out its content ambitions. It's preparing to launch TV+, its much-anticipated streaming..

Credit: The Street     Duration: 00:59Published

Here's the Real Reason Bob Iger Had to Depart from the Apple Board [Video]Here's the Real Reason Bob Iger Had to Depart from the Apple Board

You can't play for both teams in one game. That's why Bob Iger, CEO and chairman of Disney's board, had to leave Apple's board. But there's more to the story than competition. In fact, the history..

Credit: The Street     Duration: 01:04Published


Recent related news from verified sources

Apple Disputes Goldman Sachs Analyst Report Claiming Free Year of Apple TV+ Will Impact Earnings

Goldman Sachs this morning cut its target price for Apple's stock from $187 a share to $165 a share, claiming Apple's plans to give away free access to its...
MacRumours.com


Apple tops trillion-dollar mark again day after debuting new products, services

Apple Inc.'s valuation once again topped the trillion-dollar mark on Wednesday, the day after the company debuted new products and services at its Cupertino...
bizjournals


Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.