PhillipCapital’s Timothy Ang has maintained his buy call and an unchanged target price of US$187 on Apple, as forecasts for the company’s full year revenue and profit after tax and minority interests (PATMI) were in line at 100% and 101% of his FY2021 forecasts respectively.
Apple reported a 4QFY2021 revenue of US$83.3 billion ($112.29 billion), which was 28.8% higher y-o-y. Ang writes that there was a US$6 billion impact on the topline from supply chain constraints.
Gross profit saw a 42.5% jump to US$35.1 billion, while PATMI surged 62.2% to US$20.5 billion.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)