Tim Cook at the Apple launch event in Cupertino Calif. on Sept. 10th, 2019.
Here are the biggest calls on Wall Street on Wednesday:
RBC initiated Apple as ‘outperform’
RBC said in its initiation of Apple that the company has strength in its balance sheet to deliver significant cash flow back to shareholders.
“With arguably the world’s most popular consumer product providing a stable foundation, AAPL has avenues for deeper integration into its customers’ lives and the balance sheet strength to return significant cash flow to shareholders. Tariffs, success/costs of new service offerings, and phone cycle slowdown concerns likely to headline investor worries, but our longer-term outlook remains favorable.”
Read more about this call here.
UBS initiated Take-Two Interactive as ‘buy’
UBS said the video game holding company had a proven track record and key titles in its library to sustain continued success over the coming years.
“Take-Two presents investors with a few key elements of long term success in the interactive entertainment sector – a management team with a proven track record of fostering and launching engaging content, disciplined and positive track record of capital allocation and success in identifying key industry trends in terms of both sustaining engagement and monetization with key titles over extended periods.”