Market Overview

James Wang Watching iPhone, Services Revenue In Apple's Q3 Print

Share:

On CNBC's "Closing Bell," James Wang of ARK Invest spoke about things he will be watching in Apple's (NASDAQ: AAPL) earnings report after Tuesday's close.

He thinks people are going to be looking for iPhone sales and, most importantly, the services segment. He wants to see sustained growth and margin improvement for services. He believes analysts are going to look not just for revenue growth, but also gross profit.

Wang expects Apple Watch sales to grow in the long term because it's following the iPhone's path. The insurance companies are distributing and providing subsidies for Apple Watch, which is going to make it cheaper. He thinks it could become an essential item for the elderly population.

The stock price is reasonable for people with the short-term view on the stock, said Wang. He thinks Apple is becoming a content and software distribution platform and it could easily be worth twice what it is worth right now.

Apple's stock traded around $208.16 per share at time of publication.

Related Links:

At Your Service(s): Apple Q3 Results Loom Amid Services, China Concerns

Mike Khouw Sees Unusual Options Activity In Apple

Latest Ratings for AAPL

DateFirmActionFromTo
Oct 2019MaintainsOutperform
Oct 2019MaintainsBuy
Oct 2019MaintainsOutperform

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: ARK Invest Closing Bell CNBC James WangAnalyst Color Analyst Ratings Media

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WEEDMKM PartnersMaintains30.0
NKTRH.C. WainwrightMaintains32.0
DISCARosenblattMaintains33.0
GOODNational SecuritiesInitiates Coverage On25.0
XOGCitiDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Chegg Trades Higher On Q2 Earnings Beat

Morgan Stanley Downgrades Pfizer In Wake Of Upjohn-Mylan Merger