April 26, 2016 2:31 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Toni Sacconaghi of Sanford Bernstein was a recent guest on
CNBC's Halftime Report to discuss
Apple Inc. (NASDAQ: AAPL) earnings report which is scheduled to be released after Tuesday's market close.Sacconaghi started off the conversation by suggesting that the Street's estimates for the bottom half of 2016 is too high. The Street is modeling an earnings per share print of $9.07 versus his own expectations of $8.75. However, the analyst added that the company's guidance is "what people really care about."The analyst further questioned if Apple's pricing model of selling its iPhone at nearly 4 times its competitors is sustainable in a smartphone market that is likely in a declining stage. "If ultimately guidance is a little bit tepid for the second half, I think that question [of sustainability in the business model] will persist.When asked if Apple's stock is a buy based on valuation alone at 11x forward P/E, Sacconaghi pointed out that other hardware companies, such as Dell and Motorola began to see declining sales and margin pressure. The analyst followed up that if indeed Apple is seeing declining sales and margin pressure than an 11x forward P/E valuation might be justified."I still think there is room for smartphone growth and room for Apple to take share from other players," Sacconaghi said. Finally, the analyst suggested that Apple will revise its cash return program from $200 billion to $250 billion. A dividend hike is also likely, although it is unclear by how much
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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