The Zacks Analyst Blog Highlights: AAPL, AMZN, CVX, AZN and QCOM
For Immediate Release
Chicago, IL – September 22, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple AAPL, Amazon.com AMZN, Chevron CVX, AstraZeneca AZN and QUALCOMM QCOM.
Here are highlights from Monday’s Analyst Blog:
Top Research Reports for Apple, Amazon and Chevron
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple, Amazon.com and Chevron. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Apple shares have lost ground lately, but this comes after a phenomenal run this year with the stock still up +45.5% vs. +3% for the S&P 500 index and +18.5% for the Zacks Tech sector. Driving this outperformance has been the company's strong gains on the services side, a trend that the Zacks analyst believes will only accelerate in the coming periods.
Moreover, Apple devices also continued to gain traction among enterprises, particularly healthcare providers. Although Apple didn’t provide any guidance due to uncertainties triggered by the coronavirus pandemic, it expects fiscal fourth-quarter iPhone sales to benefit from strong demand for iPhone SE.
Further, Apple stated that sale of new iPhones will begin a few weeks later against the usual late September. It also expects iPad and Mac to post strong year-over-year growth. Further, Apple Watch and AirPod are other notable drivers in the long haul. However, increasing scrutiny and legal woes over App Store is a headwind.
Amazon has been a big beneficiary of the pandemic and its impact of business and our lives. Not only have trends on the online sales side been accelerated in a major way, but the outlook for the company's cloud unit has also improved significantly as a result. No doubt the stock is up +65.6% over the past year against the S&P 500’s rise of +11.4% gain.
The Zacks analyst believes that the strong adoption rate of AWS is aiding the company’s cloud dominance. Moreover, expanding the AWS portfolio is contributing well. Additionally, improving Alexa skills and features are positives.
Amazon has been benefiting from the coronavirus-led spike in online orders. Further, solid growth in its online stores sales is driving the top-line growth. Moreover, the surge in online grocery shopping is a major positive. Additionally, solid Prime momentum owing to ultrafast delivery services and expanding content portfolio remains a tailwind.
Also, expanding smart home products offerings are tailwinds. However, accelerating coronavirus related expenses might hurt the company’s profitability in the near term. Also, foreign exchange headwinds and rising cloud competition are concerns.
Chevron shares have gained +44.2% over the past six months against the Zacks Integrated Oil industry’s rise of +16.8%. The Zacks analyst expects Chevron’s proposed Noble Energy takeover deal to expand its footprint in the DJ Basin and the Permian Basin along with cash-generating offshore assets in Israel.
While the company reported a big Q2 loss, it vowed to keep its dividend and reported impressive U.S. production growth thanks to strength in the Permian Basin. However, Chevron is not immune to commodity price crash, forcing it to cut capex and suspend buybacks.
The company’s high oil price sensitivity is another concern. Moreover, the supermajor’s reserve replacement ratio of 44% is indicative of its inability to add proved reserves to its reserve base to the amount of oil and gas produced.
Other noteworthy reports we are featuring today include AstraZeneca and QUALCOMM.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Click to get this free report
Amazon.com, Inc. (AMZN): Free Stock Analysis Report
AstraZeneca PLC (AZN): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
Chevron Corporation (CVX): Free Stock Analysis Report
QUALCOMM Incorporated (QCOM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.