AAPL - Apple Analyst Says 'You Don't Wanna Be Anywhere Near The Stock' In 4 Years Feels WWDC Was Like A 'Snap CEO Talking Like We're Gonna Target 22-Year Olds' | Benzinga
Apple, Inc. (NASDAQ:AAPL) shares rallied on Tuesday, a bit late after the company’s Worldwide Developers Conference keynote presentation, but a bullish analyst said she was left unimpressed by the announcements.
Nothing Changes: Following Tim Cook’s keynote speech, the consensus estimates remain unchanged, said Needham analyst Laura Martin in an interview with Yahoo Finance.
The analyst also suggested that much of the presentation lacked substance. “They just talked for 65 minutes about new colors and emojis and capabilities and I felt like a Snap CEO talking like ‘we’re gonna target 22-year olds,'” she said, adding that an average smartphone owner is in their forties.
Apple relegating AI to the last 30 minutes was “weird,” especially as Wall Street is focused only on learning about generative AI, Martin said. “This year, we’re projecting 1% revenue growth, which is really uninteresting as a stock, unless they’re gonna use generative AI to drive an iPhone replacement cycle, and iPhones are over 50% of their total revenue,” she said.
“I just didn’t hear that yesterday.”
Martin said she hasn’t altered her estimates, given that the ...