Apple Succeeds In 'Getting Us To Talk About The Mac After Years Of Obscurity'

Apple Inc. (NASDAQ: AAPL) analysts are weighing in with their thoughts from the company’s “One More Thing” event that showed off the new M1 chip that will power the Mac laptops.Breaking Up With Intel: The move away from Intel Corporation (NASDAQ: INTC) with Apple’s own chips has been in the works for some time.The move was made official with three of Apple’s computers in the Mac lineup switching to the M1 chip, owned by Apple.Rosenblatt analyst Hans Mosesmann said Apple is adjusting the Air, Mini and Pro 13 inch, but other Mac computers will still have Intel chips inside.Credit Suisse analyst Matthew Cabral said the move to Apple chips will save $60 a unit. When all Macs switch away from Intel, he said Apple could see an uplift of 1.5% to earnings per share.Related Link: Here’s How Much Investing ,000 In Apple When Trump Sold Would Be Worth TodayGrowth of Mac: Morgan Stanley analyst Katy Huberty said the Macs with Apple Silicon complete a record product cycle from Apple.This is the busiest year for Apple with new hardware, software and services launched at three separate Apple Events.Gene Munster of Loup Ventures said Apple “doesn’t need any help convincing its base of 120 million active Mac users to stay loyal.”Munster said Apple is now becoming more competitive with PC by focusing on speed, battery length and integration across devices. PC users make up 92% of global desktop and laptop users, Munster says.The Mac division accounts for 11% of Apple’s sales and has only seen growth of 3% in the last decade versus 16% growth for the iPhone division.Munster said the Mac division is seeing strength with segment sales up 22% and 29% respectively in the last two quarters.”Apple has succeeded in getting us to talk about the Mac, after years of obscurity.”What’s Next: Huberty said Apple can deliver 20% revenue growth and 25% earnings per share growth in fiscal 2021. This is above consensus estimates of 15% revenue growth and 20% earnings per share growth.The analyst has an Overweight rating on Apple and $136 price target.Cabral has a Neutral rating on Apple and $106 price target.”We like the move to Apple Silicon on Mac as it helps unify the company’s product portfolio on a common architecture and plays to the strength of Apple’s vertically integrated hardware, software and services stack,” said Cabral.AAPL Price Action: Shares of Apple are up 2.5% to $118.85 on Wednesday.Latest Ratings for AAPL DateFirmActionFromTo Oct 2020Raymond JamesMaintainsOutperform Oct 2020Piper SandlerMaintainsOverweight Oct 2020Credit SuisseMaintainsNeutral View More Analyst Ratings for AAPL View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Apple Highlights New M1 Chip, Shift Away From Intel At ‘One More Thing’ Event * Here’s How Much Investing ,000 In Apple When Trump Sold Would Be Worth Today(C) 2020 Benzinga does not provide investment advice. All rights reserved.

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