The software giant has been upgraded by an equity firm after Tim Cook sends out a strong guidance report to Jim Cramer.
Apple Inc has recently showed great strength in the stock market which is why analysts in the industry are re-evaluating the potential the stock of the software firm could be showing in the near term future. As per a recent report, Wells Fargo, an equity firm, has run a research on the business activities of the iPhone makers and has decided to grant it an ‘outperform’ rating. Previously, the rating that was provided by the same analysts to the tech giant was of a ‘market perform’ but the recent improvements have shown otherwise.
The change, or rather upgrade, in the shares and stock value that has been made by the analysts at Wells Fargo has been backed up by the guidance Apple business has provided in an email that was written by the CEO of the firm to Jim Cramer, a show host at CNBC. Tim Cook has repeatedly been telling the press how the firm has been showing great potentials in the Chinese industry which is something that has made him quite positive about what the firm will be reported in the third financial quarter of the current year. Even in the past couple of weeks, the number of people signing up for iPhones have only been increasing which is another factor the software giant believes to be of great importance. People in China have come around to be highly appreciative of the developments and improvements the iPhone 6 and 6 Plus have to offer which is why they are switching in a very quick speed.
Given how many difficulties are currently being faced in the Chinese market, the fact that Apple’s CEO still believes so much in the growth of the company in the same region is something the analysts believe is going to come out to be great. Furthermore, the macro crisis that is being faced in China was reported to put a bad impact on the business activities of the giant but the stats given to the media by the management of the company have shown facts that speak otherwise.
Analysts are also discussing about Apple stocks in terms of how strong Apple has turned out to be, even in this difficult time in the Chinese market. The fact that such a clear guidance report has been provided by the giant to the industry shows the position it seems to be in, which is without any doubt a step ahead if compared to the other companies in the industry. The guidance has also given the analysts a strong reason for expecting a significantly strong financial report for the next quarter in line.