Diamonds and Dogs

11/3/17

Apple (AAPL) looks great following earnings. Some highlights from Apple's earnings. The company has $269 billion in cash. Revenue in India doubled, iphone 8 sales very strong, Mac had its best September ever, Apple Watch grew 50% in third quarter, wearables up 75% in the fourth quarter, but obviously the future is the iphone X. A lot of people need a new iphone because their three year old battery is dying. The iPhone X will unlock pent-up iPhone upgrades, especially in China, driving more than 20 percent iPhone unit growth and a revenue and earnings beat in 2018. Sales should grow 20% next year as earnings may rise 30%. At least 13 brokerages raised their price targets on the stock, with Citigroup making today's most bullish move by raising its price target by $30 to $200. Drexel Hamilton's Brian White is still the most bullish overall with a $235 price target.

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