+ 2.69
+ 1.88%

Jim Lebenthal Isn't Worried About Apple's Stock

May 5, 2021 4:41 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Jim Lebenthal Isn't Worried About Apple's Stock

Apple Inc (NASDAQ:AAPL) is a multi-year hold, Cerity Partners' Jim Lebenthal said Wednesday on CNBC's "Fast Money: Halftime Report."

Cash flow is strong and share buybacks will continue into 2022 and 2023, Lebenthal said. 

The ecosystem will continue to grow as iPhones continue to sell and the company brings in more ways to generate service revenue, he added.

What Happened: Apple reported quarterly earnings of $1.40 per share, beating the estimate of 99 cents and revenue of $89.58 billion, beating the estimate of $77.35 billion. The company also added $90 billion to its share buyback and raised its dividend to 22 cents per share. Since reporting earnings, the stock has trended lower. 

See also: How To Buy Apple Stock

AAPL Price Action: Apple traded as high as $145.09 and as low as $71.57 over a 52-week period. Apple is down 3.08% over a 5-day period.

At market close Wednesday, the stock was up 0.20% at $128.10.

Related Link: When Will Apple's Stock Chart Say 'Buy'?

(Photo courtesy of Apple.)

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

Dan Ives Says Apple Is Headed To $3 Trillion Market Cap

The current product development cycle will be the biggest one over the last decade for Apple Inc (NASDAQ: AAPL), Wedbush analyst Dan Ives said Monday on CNBC's "Squawk Box." read more

What Are The Short- And Long-Term Outlooks For Apple Stock?

With Apple Inc.'s (NASDAQ: AAPL) recent underperformance, the panel on read more

When Will Apple Buy A Big Company?

Jim Cramer spoke on CNBC's "Mad Money" with Tim Cook, the CEO of Apple Inc. (NASDAQ: AAPL), about the future of the company. read more

A Bullish Take On Apple Stock

Although Apple Inc (NASDAQ: AAPL) has traded lower since its outstanding earnings report, the stock will still make new all-time highs in 2021, Jim Lebenthal said Tuesday on CNBC's "Fast Money: Halftime Report." read more