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Apple Can't Live Up to Expectations: New Street

Shoshanna Delventhal

Apple posted its most recent quarterly earnings report on July 31, wherein investors applauded strength in its iPhone business and a higher-than-expected average selling price (ASP). While higher prices have offset the fact that consumers are taking longer to buy new phones, Apple shares are still apt to rise and fall on the iPhone cycles. Ferragu isn't overly bearish on Apple, however, indicating that he is "constructive on Apple's future." He views upside drivers including pricing power​​​​​​​ and growing services revenues.