We continue to like Apple and think shares will continue advancing toward the upper end of our fair value estimate range ($260+). Recent technical strength at Apple is possibly a sign that investors are beginning to price in the very positive tailwind the tech giant’s ‘Services’ segment represents in terms of both sales and margin upside (and the positive effect that has on Apple’s expected future free cash flows).
This page is available to subscribers only. To gain access to members only content (including this research piece), click here to subscribe. With a subscription, you'll have access to all of our premium commentary, equity reports, dividend reports and Best Ideas Newsletter and Dividend Growth Newsletter, as well as receive discounts on all of our modeling tools and products. Financial advisers and institutional investors have even more to choose from!