Apple: Not Priced For COVID-19 Impact
Apple warned on FQ2 revenues missing estimates due to coronavirus impact.
Analysts remain very bullish on the company's prospects long term.
The stock only trades $8 away from all-time highs.
The stock isn't a buy until more realistic expectations emerge for the COVID-19 revenues impact.
In no real surprise, Apple (AAPL) warned on revenue estimates for the current quarter only about three weeks since the company provided robust expectations for FQ2 despite some fears on the coronavirus. My previous research had warned the stock wasn't appealing in the $320 range due to low yields and the virus issue in China and this warning reinforces this thesis.
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