Laura Martin, the Needham analyst, pointed out that Apple's focus on advertising revenue could be a significant growth area as concerns about iPhone 16 demand rise.
Martin explained that new iPhone sales are crucial for determining Apple's earnings per share (EPS), signaling that their performance hinges largely on how well the iPhone 16 does in the market.
According to Martin, Apple’s current higher price-to-earnings ratio suggests that its stock valuation is heavily dependent on the upcoming iPhone replacement cycle, making it either too cheap or too expensive.
Martin emphasized the strength of Apple’s ecosystem, highlighting that it relies on a loyal customer base that consistently generates recurring revenue through their devices and services.
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