The Zacks Analyst Blog Highlights Apple, Amazon, AbbVie, Philip Morris International and BlackRock

For Immediate Release

Chicago, IL – September 20, 2022 – 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 Inc. AAPL, Amazon.com, Inc. AMZN, AbbVie Inc. ABBV, Philip Morris International Inc. PM and BlackRock, Inc. BLK.

Here are highlights from Monday’s Analyst Blog:

Top Analyst Reports for Apple, Amazon and AbbVie

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 Inc., Amazon.com, Inc. and AbbVie Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Apple’s shares have gained +6.0% over the past year, roughly in line against the Zacks Computer - Mini computers industry’s gain of +6.4%. The company is benefiting from continued momentum in the Services and robust performance from iPhone, Mac, Wearables and an expanding App Store ecosystem.

The latest iPhone 14 Pro Max model is witnessing high pre-order which is expected to drive top-line growth. The Zacks analysts expect Apple’s fiscal 2022 revenues to increase 7.2% year over year with Services growing 14.1%.

However, Apple did not provide revenue guidance for the fourth quarter of fiscal 2022. Apple expects year-over-year revenue growth to accelerate during the fiscal fourth quarter on a sequential basis, despite approximately 600 basis points of unfavorable year-over-year impact from forex. Services revenue growth is expected to be lower than the June quarter due to challenging macroeconomic conditions and unfavorable forex.

(You can read the full research report on Apple here >>>)

Amazon.com shares have declined -26.7% over the past year against the Zacks Internet - Commerce industry’s decline of -34.7%. The company’s growing expenses associated with supply-chain constraints and labor supply shortages remain concern. Nevertheless, Amazon is gaining on solid Prime momentum owing to ultrafast delivery services and a strong content portfolio. Further, strengthening relationship with third-party sellers is a positive.

Also, growing momentum across Amazon Music is contributing well. Additionally, strong adoption rates of AWS is aiding the company’s cloud dominance. An expanding AWS services portfolio is continuously helping Amazon in gaining further momentum among the customers.

Further, robust Alexa skills and expanding smart home products portfolio are positives. The company’s strong global presence and solid momentum among the small and medium businesses remain tailwinds.

(You can read the full research report on Amazon.com here >>>)

AbbVie shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+39.2% vs. +11.0%). The company has successfully expanded the labels of its cancer drugs, Imbruvica and Venclexta. It has several new drugs in its portfolio, which have the potential to drive revenues once Humira loses U.S. exclusivity in 2023.

Skyrizi and Rinvoq are going strong bolstered by approval in new indications. It has an impressive late-stage pipeline and several early/mid-stage candidates that have blockbuster potential. Allergan’s acquisition has diversified AbbVie’s revenue base into new therapeutic areas, enhancing its long-term growth potential.

However, there are concerns about long-term sales growth once Humira generics enter the U.S. market. Increasing competition from newer therapies is hurting Imbruvica’s sales

(You can read the full research report on AbbVie here >>>)

Other noteworthy reports we are featuring today include Philip Morris International Inc., and BlackRock, Inc.

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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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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