Analyst reiterates bullish outlook on Apple: ‘It’s a lot more of headline risks than anything else’
Friday December 30, 2022. 10:04 PM , from Mac Daily News
Apple faces a lot more headline risks than anything else, said Angelo Zino, senior industry analyst at U.S.-based firm CFRA Research, who reiterates his bullish outlook on the stock.
Sheila Chiang for CNBC:
“Apple is the biggest U.S. name out there, and we think it is a lot more headline risks than anything else,” Angelo Zino, senior industry analyst at CFRA Research, told CNBC’s “Squawk Box Asia” on Wednesday.
A headline risk is the risk that a company’s share price will decline from negative news coverage.
For the last two months, Apple has already been grappling with production shortages. In November, iPhone 14 production was hit by Covid-19 restrictions and labor protests at its primary iPhone 14 Pro and iPhone 14 Pro Max assembly plant in Zhengzhou, China…
“Ultimately, Apple is going to do everything they possibly can to defend their business as long as they can across different geographical regions,” said Zino. He further added that the actual impact to the top line is going to be less than 1% in the U.S. and Europe.
MacDailyNews Take: Throughout this annus horribilis, with 40-year-high U.S. inflation, currency headwinds, and rising interest rates, safe harbor Apple has held up remarkably well versus other blue chip tech stocks.
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