UBS note warns that Apple shares could potentially fall almost 30 per cent due to various concerns including weak demand, political risk in China, and antitrust concerns.
Apple has had a poor start to 2024 and things may get much worse, according to a UBS note warning shares could fall almost 30 per cent. It’s not that UBS thinks Apple shares will sink, but it sees it as a possibility – a worst-case scenario and a potential surprise for 2024. UBS cites various concerns, including “no obvious AI strategy”, weak demand and political risk in China , a mature smartphone cycle and antitrust concerns , among others.
All companies face risks, of course, but Apple’s valuation is concerning UBS. Some 80 per cent of revenue pertains to hardware, but Apple “trades on a software multiple”.Johnny Ronan: Stuck in a new kind of bear trap Mark Zuckerberg mixes business with pleasure as he drops in on wedding party thrown by Asia’s richest man Meanwhile, Apple’s 2024 earnings estimates have risen slightly over the past year – much more slowly than all but one (Tesla) of the other members of the so-called magnificent seven group of tech stock
Apple UBS Shares Fall Worst-Case Scenario AI Strategy Weak Demand Political Risk China Smartphone Cycle Antitrust Concerns
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple faces €500m fine over alleged EU law breachThe European Commission is expected to announce a fine of around €500 million for Apple over allegations of breaking EU law regarding access to its music streaming services. The investigation is focused on whether Apple blocked apps from informing iPhone users about cheaper alternatives to access music subscriptions outside the App Store. The inquiry was initiated following a complaint by Spotify in 2019.
Read more »
4 remarkable women share how the UCD Smurfit School MBA programme is transforming their career pathsIf you’ve been looking to make a career change or want to upskill to move your way up the ladder, the UCD Smurfit
Read more »
Icon plc announces $500m share buyback programme after posting record profits for 2023The Irish contract research company is forecasting a further double-digit increase in profits for 2024 as its order book continues to expand
Read more »
HSE warns thousands of possible measles exposureThe Health Service Executive (HSE) has issued a warning to thousands of people who may have been exposed to measles. The HSE advises affected individuals to be alert for symptoms and ensure they and their family are vaccinated.
Read more »
Companies Shares in Ires Reit Tumble as Goodbody Warns of Further FallsShares in Ires Reit dropped on Friday after shareholders voted down proposals tabled by activist investor Vision Capital and analysts at Goodbody anticipated the downward momentum will continue.
Read more »
Transport Congestion to Cost Irish Economy €2bn per Year, MetroLink Chief WarnsAidan Foley said that congestion is reaching ‘critical levels’ in the Swords to Dublin city corridor, eating into commuter’s time and productivity
Read more »