Stock Pick

  • Ahead of Apple’s iPhone 12 Launch, Top Analyst Says ‘Buy’

    Ahead of Apple’s iPhone 12 Launch, Top Analyst Says ‘Buy’Some good news just came Apple’s (AAPL) way. According to Wedbush analyst Daniel Ives, there finally appears to be some clarity regarding the highly anticipated launch of Apple’s flagship product, the iPhone 12 – its first to boast 5G capabilities.“While we were hearing of some delays over the past few months that would have pushed this key product cycle into the October/November timeframe, we now believe the iPhone 12 will be in late September with the smartphones ready to hit the shelves globally in early October,” said Ives.Ives was previously under the impression Apple was likely to push the launch back to the holiday period, on account of COVID-19’s impact on the global supply chain and the resultant depressed economic climate.However, the supply chain’s “impressive” return to normalization paves the way for Cook & Co. to kick off the 5G cycle as previously planned.Ives believes “there are 4 models being launched for iPhone 12 with a mix of 4G/5G with price points that potentially could be lower than $1,000 on some versions despite the additional 5G component.”As far as the 5G element is concerned, the US version will boast mmWave technology. Over the last month, Apple and its suppliers have smoothed out some lingering technology issues which is a “clear positive heading into this pivotal launch.”With the launch only a few months away, Ives summed up, “From a demand perspective, we estimate that ~350 million of Apple's 950 million iPhones worldwide are in this upgrade window which remains the linchpin to our longer-term bullish thesis and 5G super cycle for Cupertino over the next 12 to 18 months.”To this end, Ives rates AAPL an Outperform (i.e. Buy) along with a $375 price target. (To watch Ives’ track record, click here)So, that’s the Wedbush view, what about across the Street? Apple has a Strong Buy consensus rating based on 28 Buys, 4 Holds and 1 Sell. However, with Apple only recently notching an all-time high, the average price target of $336.46 now implies possible downside of 5%. (See Apple stock-price forecast on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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  • ASX 200 down 1.3%: Big four banks tumble, Afterpay tipped to go higher

    man with head in hands after looking at stock market crash on computer, asx 200 share market crash

    At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) looks set to end its positive run. The benchmark index is currently down a disappointing 1.3% to 5,914.6 points.

    Here’s what happening on the market today:

    227,700 jobs lost in May.

    The ASX 200 has come under pressure after the Australian Bureau of Statistics released its unemployment data. According to the release, Australia lost a further 227,700 jobs in May, bringing the total number of unemployed people to 927,000. This has lifted the unemployment rate to 7.1%, compared to 6.4% in April and 5.2% in March.

    Bank shares tumble.

    A combination of this news and U.S. futures dropping notably lower appears to be weighing heavily on the banks today. All the big four banks are deep in the red at lunch and acting as a drag on the ASX 200. The worst performer in the group is the Westpac Banking Corp (ASX: WBC) share price with a 2.3% decline.

    Ord Minnett increases Afterpay price target.

    The Afterpay Ltd (ASX: APT) share price could still go higher from here according to one leading broker. A note out of Ord Minnett this morning reveals that its analysts have retained their buy rating and almost doubled their price target to $64.70. It believes Afterpay could have almost 10 million active customers on its platform by the end of the financial year. The Afterpay share price is up 1% to $58.34 at the time of writing.

    Best and worst ASX shares.

    The best performer on the ASX 200 on Thursday has been the A2 Milk Company Ltd (ASX: A2M) share price with a 3.5% gain. Earlier this week analysts at UBS suggested the infant formula company might outperform its guidance in FY 2020. Going the other way, the worst performer is the AP Eagers Ltd (ASX: APE) share price with a 5.5% decline on the back of no news.

    5 stocks under $5

    We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.

    And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

    Learn More

    *Extreme Opportunities returns as of June 5th 2020

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    Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of A2 Milk and AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

    The post ASX 200 down 1.3%: Big four banks tumble, Afterpay tipped to go higher appeared first on Motley Fool Australia.

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  • Splitit share price rockets 33% on new Mastercard deal

    Rocket soaring through the sky

    The Splitit Ltd (ASX: SPT) share price is on the rise today after the buy now, pay later (BNPL) provider announced a partnership with Mastercard. The multi-year agreement is intended to accelerate the global adoption of Splitit’s instalment solution. 

    At the time of writing, the Splitit share price is up by a whopping 33.33% to 88 cents per share.

    What does Splitit do?

    Splitit provides a payment method solution that allows customers to pay for purchases with an existing debit or credit card by splitting the cost into monthly payments. Unlike competitor Afterpay Ltd (ASX: APT), Splitit does not itself extend credit to customers. Its solution enables merchants to offer customers an easy way to pay for purchases in monthly instalments with instant approval.

    What does the Mastercard agreement mean for Splitit? 

    The agreement with Mastercard allows Splitit to integrate its instalment solution with Mastercard’s suite of technology as a network partner. This will enable merchants to deliver seamless and secure customer checkout experiences, both in person and online. 

    Commenting on the new agreement, Splitit CEO Brad Paterson stated:

    This is a fantastic way to broaden distribution of our solution, leveraging Mastercard’s incredible global reach, and build out a range of instalment services. It’s a major plank in our strategy to grow through strategic partnerships and make Splitit a household name.

    Splitit and Mastercard will jointly develop instalment and related products. There are plans to launch pilots across 3 markets ahead of a global rollout.

    “The partnership with Splitit will help drive higher transaction volumes for businesses and deliver budgeting solutions in the moment customers are seeking them,” said Mastercard’s Executive Vice President of Global Merchant Solutions and Partnerships. 

    How has the Splitit share price performed?

    The Splitit share price has tripled since its March low. As a result, the company was added to the All Ordinaries Index (ASX: XAO) last week, following the quarterly index rebalance by S&P.

    Splitit reported record monthly merchant sales volumes of US$25.8 million in May, up 39% from April and 321% compared to May 2019. Splitit’s total unique shoppers surpassed 290,000 in May, up 18% from the end of Q1 FY20.

    The company also reported merchant numbers increased by 12% over the same period to 964. Its average order value also climbed, reaching US$939 in May up from US$737 in Q1 FY20. Its accelerated growth in May was driven by new large merchants onboarded in recent months. 

    Foolish takeaway

    BNPL providers have been among the ‘winners’ of the coronavirus pandemic, as lockdowns have seen e-commerce expansion accelerate. Merchants are also actively pursuing strategies to improve conversion rates and Splitit is seeing growth in its share of checkout. 

    5 stocks under $5

    We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.

    And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

    Learn More

    *Extreme Opportunities returns as of June 5th 2020

    More reading

    Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

    The post Splitit share price rockets 33% on new Mastercard deal appeared first on Motley Fool Australia.

    from Motley Fool Australia https://ift.tt/3edRWXg

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