Latest news with #DavidVogt
Yahoo
4 days ago
- Business
- Yahoo
NetApp Q1 Outlook Falls Short, Analyst Lowers Price Forecast
NetApp, Inc. (NASDAQ:NTAP) reported fiscal fourth-quarter results on Thursday. The company reported quarterly sales of $1.73 billion (+4% year over year), beating the Street view of $1.72 billion. The company reported adjusted earnings per share of $1.93, beating the analyst consensus estimate of $1.90. Following the results, Wells Fargo analyst Aaron Rakers maintains NetApp with an Equal Weight rating, lowering the price forecast from $115 to $ analyst David Vogt reiterated the Neutral rating on the stock, decreasing the price forecast from $115 to $108. In the fourth quarter, Hybrid Cloud segment revenue rose to $1.57 billion, up from $1.52 billion in the fourth quarter of fiscal 2024. Public Cloud segment revenue reached $164 million, compared to $152 million in the prior-year quarter. Quarterly billings reached $2.03 billion, up from $1.81 billion in the fourth quarter of fiscal 2024, marking a 12% year-over-year increase. The company reported operating cash flow of $675 million, compared to $613 million in the fourth quarter of fiscal year 2024. The company reported cash and equivalents of $3.85 billion at the end of the fourth quarter of fiscal year 2025. In the fourth quarter, NetApp returned $355 million to its stockholders through a combination of share repurchases and cash dividends, it said in a press release. According to George Kurian, CFO of NetApp, fiscal year 2025 saw numerous revenue and profitability records for NetApp. This success was attributed to significant market share gains in all-flash storage and the accelerating growth of their first-party and marketplace storage services. Kurian also noted the company's strategic moves during the year, including a refresh of their entire systems portfolio, a sharper focus on cloud services, and positioning to lead in the enterprise AI market. Looking ahead to fiscal year 2026, he expressed confidence in continued long-term growth, citing the company's strongest portfolio to date, a differentiated value proposition, and ongoing innovation and market expansion following a year of market share gains. NetApp expects first-quarter adjusted EPS to range between $1.48 and $1.58, below the $1.65 estimate. The company forecasts first-quarter revenue between $1.455 billion and $1.605 billion, compared to the $1.61 billion consensus. NetApp projects FY2026 adjusted EPS between $7.60 and $7.90, compared to the $7.72 estimate. The company expects revenue between $6.625 billion and $6.875 billion, versus the $6.86 billion consensus. Price Action: NTAP shares are trading lower by 0.51% to $98.71 at last check Friday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? NETAPP (NTAP): Free Stock Analysis Report This article NetApp Q1 Outlook Falls Short, Analyst Lowers Price Forecast originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
UBS Reiterates Neutral on Apple (AAPL) as Tariff Talk Sparks iPhone Buying Surge
We recently published a list of . In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against other AI stocks on latest news and ratings. One of the most notable analyst calls on Tuesday, May 28, was for Apple Inc. (NASDAQ:AAPL). Apple is a technology company known for its consumer electronics, particularly the iPhones and MacBooks. UBS analyst David Vogt reiterated a Neutral rating on the stock with a $210.00 price target. The firm's checks show an 'uptick' in foot traffic following the tariff announcements. While Apple's management mentioned in their earnings calls that they didn't observe any significant pre-buying activity in March, Vogt highlighted how Counterpoint's sell-through data indicated otherwise. The data revealed that there was significant pre-buying activity of iPhones in anticipation of tariffs. A wide view of an Apple store, showing the range of products the company offers. The sell-through data further reported that iPhone unit sales in China were nearly 4% lower year-over-year in April. On the other hand, sales in the United States saw an 18% increase, whereas Europe experienced a 5% rise, and the rest of the world, except for China, relished a roughly 25% surge in sales. 'Following the announcements of US imposed tariffs across China and Southeast Asia in early April, anecdotal iPhone checks indicated an uptick in foot traffic in Apple stores and other smartphone point of sale outlets like Best Buy and telecom operator stores.' Overall, AAPL ranks 4th on our list of AI stocks on latest news and ratings. While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AAPL and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Forbes
14-04-2025
- Business
- Forbes
Apple Soars After Tariff Exemptions—And iPhones May Not Get More Expensive After All
Shares of Apple jumped Monday as the Silicon Valley giant benefited from the White House's tariff exemptions on smartphone imports, remarkably almost entirely erasing Apple stock's sharp tariff losses—and the exemption boost is not just good news for Apple shareholders but for prospective iPhone buyers alike, as iPhone prices may not get a major hike as some analysts anticipated. A customer walks through an Apple Store in Hong Kong last week. Apple was among the many stocks hurt during the stock market plunge as President Donald Trump pursued his most aggressive tariff policies—shares of the California-based firm dove 23% from April 2's 'Liberation Day' through Tuesday as it relies heavily on China in its global supply chain. But the White House's late Friday update it would exempt smartphones and other high-tech products from its highest tariff rates helped drive Apple's comeback. The reduction from a 145% tariff on Apple components from China to a 20% tariff lowers the company's projected tariff profit hit from 29% to 5%, UBS analyst David Vogt wrote in a Sunday note to clients. Apple stock rose almost 5% to $208 by 9:45 a.m. EDT Monday, tacking on $140 billion in market capitalization and spearheading a broader tech stock bounceback, as the Nasdaq index climbed more than 1%. Shares of Apple are up 20% from their $172 close last Tuesday, its lowest level since May, now trading within $15 of its share price ahead of the April 2 'reciprocal tariff' announcement which drained stock prices globally. $520 billion. That's about how much market value Apple has recovered since Tuesday. That's a six-day move greater than the total valuation of Mastercard, the world's 18th-most valuable company. Following the White House smartphone tariff relief, the UBS analysts wrote they don't 'expect Apple to increase prices on iPhones in the near-term,' a major relief from consumers after Rosenblatt analysts projected the Apple smartphone prices would soar by 43% under Trump's original reciprocal tariff plans. But 'if tariffs are reinstated at prior levels, we would expect a price increase,' Vogt cautioned. That's a nod to the lingering uncertainty, exacerbated by Commerce Secretary Howard Lutnick's assertion Sunday the tech tariff exemptions are temporary. About 80% to 90% of iPhones are assembled in China, according to Bank of America. It's 'unlikely' Apple shares will return to its all-time high of more than $250 soon given the uncertainty and 'frequency of changes we have seen over the last two weeks,' JPMorgan analyst Samik Chatterjee wrote Monday.
Globe and Mail
14-04-2025
- Business
- Globe and Mail
Top UBS Analyst Optimistic on Apple (AAPL) After Tariff Cut
Top Wall Street analyst David Vogt from UBS (UBS) is optimistic about Apple's (AAPL) prospects, given the reduction of U.S. tariffs from 145% to 20%. The tariff changes, recently announced by the U.S. Customs and Border Protection Agency, significantly ease the potential economic burden on AAPL, given its reliance on China's supply chain for manufacturing. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Overall, Vogt maintained a Buy rating on Apple stock with a price target of $236, which implies 19.1% upside potential from the current level. Before moving ahead, it must be noted that Vogt ranks 1,763 out of more than 9,400 analysts tracked by TipRanks. He has a success rate of 56% and has achieved an average return per rating of 9.2% in the past year. Analyst Sees Smaller Earnings Hit Than Feared Vogt initially estimated that a 145% tariff on technology imports from China could have slashed Apple's earnings capacity by 30%. However, on Friday night, several of the company's electronic products, such as iPhones, iPads, Macs, Apple Watches, and AirTags, were exempted from tariffs. Thus, under the new tariffs, the impact on the company's bottom line is expected to be smaller. The analyst believes that the reduced tariffs would result in a $0.34 per share drop in Apple's earnings, or a 5% hit to its 2026 earnings forecast of $7.49 per share. This tariff change brings relief to Apple, improving its overall growth outlook. Another analyst, Amit Daryanani from Evercore ISI, expressed optimism. He said, 'This is a major relief for Apple. The tariffs would have driven material cost inflation.' Moreover, he anticipates AAPL stock to rally on Monday following an 11% decline earlier in the month. Apple Bets on India amid China Tariff Threats While this exemption offers relief, uncertainty remains. A lower 'sectoral' tariff on semiconductor-based goods is possible, and President Trump may still apply tariffs to phones, computers, and electronics. As a result of these tariff changes, Apple is boosting iPhone production in India to counter China tariffs and avoid substantial price increases for consumers. With India projected to produce over 30 million iPhones annually, this output could help meet much of the U.S. demand. However, shifting production poses challenges, especially with the iPhone 17, primarily set to be made in China. It must be noted that India currently accounts for 20% of Apple's global iPhone production, and the company plans to expand this further. Is Apple a Buy, Sell, or Hold? Turning to Wall Street, AAPL stock has a Moderate Buy consensus rating based on 17 Buys, 12 Holds, and four Sells assigned in the last three months. At $242.61, the average Apple stock price target implies a 22.44% upside potential. See more AAPL analyst ratings.
Globe and Mail
01-04-2025
- Business
- Globe and Mail
Analysts Say Apple Intelligence Isn't Coming in 2025. Does That Mean It's Time to Ditch AAPL Stock?
From the Mac to the iPhone, Apple's (AAPL) empire thrives on innovation, now fusing artificial intelligence (AI) into every touch, swipe, and voice command, redefining how the world connects. But recently, Apple has struggled to keep the spark of innovation alive. iPhone owners are holding onto their devices longer, and Wall Street is questioning whether Apple still has the magic needed to catalyze another device upgrade boom. UBS analyst David Vogt doesn't think so - at least not anytime soon. He says Apple Intelligence, the company's highly anticipated AI upgrade, won't arrive in 2025 as expected. That means no game-changing Siri overhaul or killer AI feature to drive demand for the next iPhone. With the average iPhone now over three years old, a major upgrade cycle should be around the corner. But without AI to fuel it, UBS sees no rush for consumers to trade up. With the future of iPhone demand in question, is patience still a winning strategy for investors? Let's dig deeper. About Apple Stock California-based Apple (AAPL) commands a market cap of $3.3 trillion. Apple, part of the elite ' Magnificent Seven,' dictates tech's future, mastering supply chains and redefining innovation. With an iron grip on hardware, software, and services, Apple is setting new trends, ensuring the world stays tethered to its ever-expanding ecosystem. Apple, though still 14% below its December peak of $260.10, has surged 30% over the past 52 weeks. Apple isn't cheap, trading at 30.8 times forward earnings and 8.6 times sales, well above the sector's 26.79x and 2.73x averages, respectively. But premium pricing comes with premium dominance. Investors keep buying in, betting that Apple's ecosystem and brand power will sustain its long-term growth story. Apple's Q1 Beats Wall Street Projections Apple's fiscal 2025 first-quarter results on Jan. 30 landed with the weight of a sledgehammer. The company reported $124.3 billion in revenue, a record-breaking feat that edged past Wall Street's projections. Product sales swelled to $98 billion, powered by resurgent iPad and Mac demand, while services soared 14% to a record $26.3 billion. Net income rocketed to an all-time high of $36.3 billion in Q1, with EPS of $2.40 outpacing the expected $2.36. A razor-sharp product mix pushed gross margins to 46.9%. Yet, storm clouds loom. With as much as 95% of Apple's products assembled in China, new U.S. tariffs threaten to carve deep into its financial fortress. Apple's famed pricing power and supply chain finesse will be put to the test as it maneuvers through this geopolitical minefield. Apple kept its cards close on precise future earnings but hinted at steady momentum, expecting low-to-mid single-digit revenue growth for the March quarter and a double-digit expansion in services. The bigger picture is that innovation remains Apple's guiding force. What Do Analysts Expect for Apple Stock? UBS sees Apple at a crossroads. The brand loyalty is there, but the spark? Not so much. Analyst David Vogt keeps a 'Neutral' rating and a $236 price target, noting that AI-driven iPhone demand isn't materializing as hoped. Vogt sees no major AI-driven boost to iPhone sales in 2025 as Apple Intelligence - Apple's planned AI upgrade - faces delays. Siri's delayed AI upgrade and a lack of game-changing design tweaks mean iPhone users are holding onto their devices longer - now averaging 37 months, up from 34 last year. The analyst doesn't expect significant improvements to Apple Intelligence or a major iPhone redesign over the next 12 months, even with the iPhone 17 launch in fall 2025. The tech giant is banking on software revamps and, possibly, a foldable iPhone by 2026. Until then, Apple needs to find new ways to convince users that upgrading is worth it. With no clear driver for an iPhone refresh cycle, UBS remains cautious about AAPL's growth potential in the near term. AAPL stock has a consensus 'Moderate Buy' rating overall. Of the 36 analysts covering the stock, 17 recommend a 'Strong Buy,' five suggest a 'Moderate Buy,' 10 play it safe with a 'Hold' rating, one says it's a 'Moderate Sell,' and the remaining three analysts advise a 'Strong Sell.' The tech stock's mean price target of $251.72 suggests that it could rally as much as 13% from the current price levels. The Street-high of $325 implies potential upside of 46%.
