Apple(NASDAQ:AAPL) is ready to debut its new 5G iPhone today, but one analyst thinks public reception to the newest model will be underwhelming.
Harsh Kumar, an analyst at Piper Sandler, says a survey of 1,000 people indicates only 10% of current iPhone owners say they will upgrade to the iPhone 12 after it debuts at today’s Apple event. according to a report by TheFly.com.
Image source: Apple.
Kumar told investors in a note that previous surveys showed as many as 23% of iPhone owners had planned to upgrade to the newest iteration. So, he said, “We are a bit surprised by the lower than expected demand given the cellular transition, but the global pandemic may be putting pressure on spending patterns this fall/winter.” The new iPhone is expected to cost $1,200.
The low figure in the latest survey also is at odds with other surveys that have suggested
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IBM shares soared after the company announced plans to spin off its IT infrastructure unit to focus on its cloud computing business.
But even with Thursday’s surge, the stock still trades at a valuation far below its peers. IBM’s 11 times forward price-to-earnings ratio is cheaper than the XLK tech ETF’s 25 times multiple and the SKYY cloud ETF’s 35 times multiple.
This could be the beginning of a major transformative period for the company, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Thursday. He compared new IBM CEO Arvind Krishna to Microsoft CEO Satya Nadella’s leadership.
Nadella, Microsoft’s chief executive officer since 2014, has overseen the company’s own shift to cloud services. Revenue in Microsoft’s cloud business increased 17% to $13.4 billion in its fourth quarter ended June, accounting for more than one-third of overall sales. IBM’s cloud business generates 30% of total revenue.
Chicago, IL – October 7, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include IBM IBM, PayPal Holdings PYPL, Overstock.com OSTK and Mastercard MA.
Here are highlights from Tuesday’s Analyst Blog:
4 Stocks to Watch on Growing Blockchain Proliferation
Blockchain technology has been a game changer in 2020, amid the backdrop of coronavirus induced challenges in the digital ecosystem.
The lynchpin technology is enabling enterprises and government agencies to tackle prominent issues including data tracing, security, visibility and management, and supply chain supervision.
Evolution of blockchain practices in a bid to address these challenges is expected to democratize the benefits of blockchain technology in the days ahead. This, in turn, will aid in countering the pandemic in
While technology has been the engine that has driven stock market performance for some time now, increasingly we are seeing a seismic shift to health care among many portfolio managers, and with good reason. Health care spending has grown for years, and with an aging population that is actually living longer, more and more procedures that may have been postponed in the past are being completed now.
A new component for the industry is the big increase in working from home, and this is helping to fuel growth for some of the top medical technology companies. In a new Jefferies research report from, the firm’s lead health care analyst, Jared Holz, makes the case that working from home could be a huge boost for the industry in the near term and into 2021 and beyond. The report said this:
A new rumor chimes in on ProMotion arriving with the “iPhone 13” and Apple may not release new iPhone SE until 2022, but it will arrive with 5G support, a dual-camera setup, and a larger display when it does.
According to display expert Ross Young, Apple won’t release a new iPhone SE model in the spring of 2021. Instead, a successor to the low-cost iPhone arrives in the spring of 2022.
Those waiting for the update may be rewarded with several new technologies. Young says the new iPhone SE model will sport 5G support, a 6.06-inch display, and a dual-lens camera setup. It will reportedly retain a Touch ID sensor, though there aren’t any details on fingerprint sensor location or bezel size.
As far as predictions for 2021, Young says that the “iPhone 13” models will sport 120Hz ProMotion displays with variable refresh rates, made possible through adoption of
Tesla (TSLA) may not have much of a future in the world’s largest electric vehicle market, if one analyst’s predictions pan out. Morgan Stanley’s (MS) Adam Jonas says that CEO Elon Musk’s high-tech automotive company will likely see sales in China plummet to zero by 2030.
“We have China sales peaking [in the] middle of the decade and then going down…and then eventually nothing after 2030,” Jonas told Yahoo Finance’s “On the Move” this week.
China has become an important market for Tesla, since Musk worked with the country’s government to build out the firm’s Shanghai Gigafactory. The country has the fastest growing EV market in the world, but saw sales dip last year as Beijing began to phase out government subsidies for alternative energy vehicles with the expectation of ending them in 2020.
Tesla, which doubled its sales in China in the first half of 2020,