For Immediate Release
Chicago, IL – May 30, 2023 – 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, Chevron Corp. CVX, Accenture plc ACN, Broadcom Inc. AVGO and Stryker Corp. SYK.
Here are highlights from Friday’s Analyst Blog:
Top Analyst Reports for Apple, Chevron and Accenture
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., Chevron Corp. and Accenture plc. 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 outperformed the Zacks Computer - Mini computers industry over the past year (+16.3% vs. +15.8%). The company’s revenues are expected to grow year over year. Growing services subscriber base and a strong liquidity position are key catalysts for Apple’s prospects.
However, Apple expects the March quarter’s year-over-year revenue growth to be similar to that of the December quarter due to unfavorable forex. For the iPhone, Apple expects the March quarter’s year-over-year revenue growth to accelerate relative to the December quarter’s year-over-year revenue growth.
For Mac and iPad, revenues are expected to decline in double digits on a year-over-year basis due to challenging comparison and macroeconomic headwinds. Services revenue growth is expected to be negatively impacted by challenging macroeconomic conditions, as well as weakness in digital advertising and gaming.
(You can read the full research report on Apple here >>>)
Shares of Chevron have underperformed the Zacks Oil and Gas - Integrated - International industry over the past year (-10.1% vs. +1.7%). The company was not immune to the commodity price crash of 2020, forcing it to cut spending substantially. The company’s high oil price sensitivity is a concern too.
Moreover, the supermajor’s 10-year reserve replacement ratio of 100% is indicative of its inability to replace the amount of energy produced. However, Chevron is considered one of the best-placed global integrated oil firms to achieve sustainable production ramp-up.
America’s No. 2 energy firm’s existing project pipeline is among the best in the industry, thanks to its premier position in the lucrative Permian Basin. As a reflection of these positives, we saw CVX’s EPS jump 132% in 2022.
(You can read the full research report on Chevron here >>>)
Accenture’s shares have outperformed the Zacks Consulting Services industry over the year-to-date period (+77.0% vs. +46.8%). The company has been steadily gaining traction in its outsourcing and consulting businesses backed by high demand for services that can improve operating efficiencies and save costs. The company has been strategically enhancing its cloud and digital marketing suite through buyouts and partnerships.
The company’s strong operating cash flow has helped it reward its shareholders in the form of dividend payments and share repurchases, and pursue opportunities in areas that show true potential. On the flip side, pricing pressure due to significant competition from strong companies like Genpact, Cognizant and Infosys, remains a concern.
Global presence exposes it to foreign currency exchange rate fluctuations. Buyout-related integration risks continue to remain a concern. Partly due to these headwinds, Accenture shares are down 4.1% in the past year.
(You can read the full research report on Accenture here >>>)
Other noteworthy reports we are featuring today include Broadcom Inc. and Stryker Corp.
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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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