Apple Inc.'s stock won a new fan on Wall Street late Thursday as Citi Research analyst Atif Malik initiated coverage of it with a buy rating.
Apple Inc.’s stock won a new fan on Wall Street late Thursday as Citi Research analyst Atif Malik initiated coverage of it with a buy rating.
“We believe the Street is underestimating continued gross margin expansion,” he wrote in his note to clients, which was titled: “A Hardware Company That Thinks Like a Software Company.” The company stands to benefit as India’s middle and upper classes grow, Malik said. Those cohorts could grow their spending by six times come 2030, he wrote.
Other emerging markets, including Mexico, Saudi Arabia, Turkey and the United Arab Emirates, offer opportunity as well.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Caltech’s win in Apple Inc. patent case is upheld after U.S. Supreme Court declines appealThe U.S. Supreme Court has declined to hear Apple Inc’s. appeal in the potentially $1 billion patent infringement case brought and won against the tech giant by the California Institute of Technolo…
Read more »
Citi begins new coverage of Apple at a Street-high price of $240Analyst Atif Malik rated Apple a buy and his price target implies 27% upside compared with Thursday's close.
Read more »
Buy Buy Baby goes up for auction after Bed Bath & Beyond assets get sold offBuyers will look to bid on the Buy Buy Baby brand Wednesday amid the bankruptcy of its parent company, Bed Bath & Beyond.
Read more »
Doubt grows over Buy Buy Baby sale process as parent Bed Bath & Beyond splits auctionBed Bath & Beyond is splitting the bankruptcy-run auction of its Buy Buy Baby chain into two phases as the retailer struggles to nail down bids in a sale process now shrouded in doubt.
Read more »
Apple's march toward a $3 trillion valuation, shown in one chartApple Inc. Chief Executive Tm Cook is getting ever closer to leading a $3 trillion empire.
Read more »
Apple Vision Pro: How early adoption could stack up against the iPhone, Apple Watch and iPodAnalysts predict that Apple could amass an installed base of 20 million users of the Vision Pro and related devices five years out from the product's launch.
Read more »