Apple Inc AAPL QQQ
Morningstar’s Analysis
Quote Stock Analysis News Pricevs Fair Value Trailing Returns Financials Valuation Operating Performan
Apple’s Decision to Lower the Price
Mainstream iPhone Appears Prude
Overvalued
Abhinav Davuluri
Sector Strategist
Analyst Note | by Abhinav Davuluri Updated Sep 10, 2019
On Sept. 10, Apple held its annual product sho wcase, where
launch of three new iPhone models: the i Phone 11, i Phone 11
Max, with the latter two devices featuring an OLED display an
VFUHHQ;;:H;QRWH;$SSOH;PRGL;HG;LWV;SULFLQJ;VWUDWHJ\;ZLWK;WKH;
equivalent to last year’s i Phone XR), starting at a price of $69
XR’s starting price tag of $749. We think the $50 drop in start
least expensive model supports our belief that Apple’s switch
thus meriting a narrow moat rating in our view. In all, we con
in the iPhone 11 series to be relatively marginal and we susp
Valuation Sep 13, 2018
Currency in USD
1-Star Price
> 310.00
Last Close
217.73
Fair Value
200.00
Uncertainty: High
AAPL is trading within a range we consider
fairly valued.
Trend: Stable
5-Star Price
< 120.00
Economic Moat
Narrow
Stewardship
Standard
Q
QQ
QQQ
QQQQ
QQQQQ
Competitors Summary Bulls Say/Bears Say
*This limited-time offer is valid only for new Morningstar Premium members. The special pricing cannot be used in combination with any other offer and
cannot be used to extend an existing Premium membership. If you are already a member, please pass this offer along to a friend or family member.
The promotional price of $169 is valid for the first 12 months. At the end of this term, your subscription will automatically renew on an annual basis at the
current rate. The annual membership rate is subject to change without notice. Offer expires on 1/31/20. ©2019 Morningstar. All Rights Reserved.
Morningstar Premium membership unlocks our independent analyst research,
HDV\;WR;XQGHUVWDQG;UDWLQJV;;DQG;SRUWIROLR;WRROV;WR;KHOS;\RX;PDNH;FRQ;;GHQW;
decisions over the long haul. It lets you tap into the principles that set us apart:
independence, transparency, and long-term vision.
Uncommon insights for
everyday investors.
Start a 14-day free trial and save $30 with code Get30.
Learn more at morningstar.com/premium.