- Apple shares sank in Tuesday trading after the company warned quarterly revenue would fall below initial estimates, but analysts aren't fazed.
- Most research firms remain bullish toward the tech giant, praising its diversification of revenue streams, surging Services business, and upcoming 5G iPhone lineup.
- Revenue lost during the second quarter will likely materialize in the second half of 2020 as consumers boost spending activity post-outbreak, analysts wrote.
- Here's what four analysts had to say about the revenue update, coronavirus concerns, and long-term moves for Apple shares.
- Watch Apple trade live here.
Analysts are still optimistic toward Apple shares despite the tech giant warning its quarterly revenue will fall below initial forecasts.
The iPhone maker announced Monday its fiscal second-quarter revenue will miss guidance on coronavirus concerns. The outbreak has "temporarily constrained" iPhone supply around the world and weakened demand in China, according to the Monday release. Apple's estimate was already "wider-than-usual" by its own account, but Monday's update marks a major escalation of its exposure to coronavirus fallout.
The company's stock sank as much as 3.2% in Tuesday's trading session, though it is still up 9.4% year-to-date. While the revenue adjustment lowered hopes for Apple's second-quarter report, most analysts expect revenue to rebound in the second half of 2020 and for shares to continue their bull run through the year.
Here's what four analysts had to say about Apple's update, coronavirus concerns, and how investors should view the stock.
