You don’t need to worry about souring sentiment surrounding Apple (AAPL)…
Morgan Stanley recently released a research note saying the technology giant may soon suffer a shortfall in its services division.
The investment bank said that while Apple’s App Store revenue increased by 2.5% in June, its rise was weaker than May’s 4% jump.
Meanwhile, Morgan Stanley estimated the company’s App Store revenue rose by 5% over the past three months… lower than the prior quarter’s 6% increase.
This was due to weakness in the Chinese market. However, skittish consumer behavior worldwide played a role as well.
Still, the financial firm added that demand would likely reaccelerate in the second half of the year – adding to JPMorgan Chase’s own bullish outlook for the technology giant… even with some pressures.
Recently, JPMorgan reiterated its “overweight” rating for Apple’s stock, suggesting a potential upside of 47% from Tuesday’s close to $200 per share.
JPMorgan noted that even though foreign-exchange rates and weakening sentiment are presently weighing on Apple, its business will remain strong throughout the year.
The investment bank said Apple’s pricing power will be a tailwind for the company despite disruptions. And these factors will likely help to offset projected challenges in the months ahead.
This is doubly true once you consider Apple’s recent product diversification…
Even though the iPhone continues to be its biggest source of revenue, it has developed a variety of software and electronics.
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