after its strong earnings report
and said it sees several long-term positives for the stock including the "offline to online ad shift" among other things. "While we think the Q2 report contains many positive rate of change narratives, our rating change to Buy is not short-term but longer in duration driven by key themes -remains in a unique position at the intersection of two secular tailwinds: 1) the offline to online ad shift & 2) the blurring of lines between digital ad & eCommerce. In particular, our higher conviction in the monetization path is reflected in our raised multi-year revenue forecast.
Bernstein said in its upgrade of the stock that it's bullish on the upcoming 5G cycle and sees a more "positive" risk/reward. "Given a cleaner outlook around customer and regulatory disputes, potential further upside from possible Huawei chip sales, accelerating economics as AAPL reenters the model, and subsequent potential for multiple expansion we judge
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