Jim Cramer on Why He's Not Looking Forward to Apple's Event

Credit: The Street
Published on March 21, 2019 - Duration: 00:35s

Jim Cramer on Why He's Not Looking Forward to Apple's Event

Three analysts upgraded for Apple Thursday ahead of its much-anticipated launch event next week in Cupertino.

Citigroup boosted its price target on Apple by $50 to $220 per share with analyst Jim Suva expecting a dividend increase and a $100 billion increase in the company's share buyback plans when it reports second quarter earnings next month.

Needham analysts upgraded Apple to "strong buy", with Laura Martin lifting her price target by $45 to $225 and arguing the company is "most likely to prevail in a direct competition between FAANG ecosystems." "The March 25th event holds significance; however, less so relative to any major surprises as part of the launch of video services, but more so relative to creation of another Services growth driver.

With an abundance of predictions on the announcement already widely publicized in the press, we believe the event itself will not be a catalyst," JP Morgan's Samik Chatterjee said.

"However, as we look at the opportunity for the announcement to make a material impact on earnings in the future, we are primarily focused on longterm drivers that could set up the video service to establish itself as a strong competitor to Netflix over time." Related.

Jim Cramer: Apple Doesn't Need a Driverless Car to Be a Buy Will You Have Enough Money Retire?

Want to learn about retirement planning from some of the nation's top experts?

Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium.

For a limited time, tickets are available for $99 for this full-day event.

Check out the agenda, learn about the speakers and sign up here.


You are here

Recent related videos from verified sources

Investing Lesson: Be Careful With FAANG Earnings 02:31
Credit: The Street - Published 2 days ago 

Three Earnings' Reports to Watch this Week 03:36
Credit: The Street - Published 4 days ago 

Digital Trends Live - 4.17.19 - Digital XBox One S Confirmed + Team of Spot Minis Tow A Delivery Truck
Credit: Digital Trends - Published 1 week ago 

Jim Cramer: Qualcomm's Ending its Dispute With Apple 00:32
Credit: The Street - Published 1 week ago 

Jim Cramer's Response to Netflix's Earnings 01:23
Credit: The Street - Published 1 week ago 

Jim Cramer's Thoughts on Abbott and Netflix Earnings, Qualcomm and Apple 05:13
Credit: The Street - Published 1 week ago 

What Is FAANG? Jim Cramer Explains 01:06
Credit: The Street - Published 1 week ago 

Goldman Sachs Earnings: How Do You Play the Stock? 02:49
Credit: The Street - Published 2 weeks ago 

You might like