Disruptive Technology

Week 18 – US Bellwether Blast: Apple Q223 earnings

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AO World plc NEUTRAL 22/09/21 N/A N/A 76.4p
ASOS plc NEUTRAL 29/09/21 N/A N/A 513p
Auto Trader Group plc NEUTRAL 24/01/22 N/A N/A 631p
Auto1 Group SE NEUTRAL 09/02/22 N/A N/A 830c
Baltic Classifieds Group plc NEUTRAL 09/08/22 N/A N/A 162.2p
boohoo group plc OUTPERFORM 22/09/21 N/A N/A 40.9p
Carvana Co NEUTRAL 09/02/22 N/A N/A 1196c
Cazoo Group NEUTRAL 08/09/21 N/A N/A 11659c
Darktrace plc NEUTRAL 11/08/22 N/A N/A 293.7p
Deliveroo plc OUTPERFORM 18/01/22 N/A N/A 108p
Delivery Hero OUTPERFORM 18/01/22 N/A N/A 3949c
DoorDash Inc NEUTRAL 18/01/22 N/A N/A 6722c
GB Group plc OUTPERFORM 11/08/22 N/A N/A 306p
HelloFresh SE OUTPERFORM 09/02/22 N/A N/A 2423c
Itsarm plc NEUTRAL 09/08/22 Outperform 22/09/21 0.3p
Just Eat Takeaway.com OUTPERFORM 18/01/22 N/A N/A 1698c
Kainos Group plc NEUTRAL 06/09/22 N/A N/A 1240p
Marks Electrical Group plc OUTPERFORM 12/01/23 Neutral 26/07/22 87.0p
Moonpig Group plc NEUTRAL 06/10/21 N/A N/A 135p
musicMagpie plc NEUTRAL 29/09/21 N/A N/A 24.5p
Naked Wines plc NEUTRAL 06/10/21 N/A N/A 108p
On the Beach Group plc OUTPERFORM 09/02/23 Neutral 06/10/21 124p
OnTheMarket plc NEUTRAL 09/08/22 N/A N/A 73.5p
Purplebricks Group plc OUTPERFORM 06/03/23 Neutral 24/01/22 1.5p
Rightmove plc OUTPERFORM 24/01/22 N/A N/A 565p
Sosandar plc OUTPERFORM 26/07/22 N/A N/A 25.0p
Trustpilot Group plc NEUTRAL 06/09/22 N/A N/A 82.0p
Virgin Wines UK plc NEUTRAL 26/07/22 N/A N/A 34.0p

DAVY VIEW

Apple (AAPL) is very dependent on consumers’ ability to afford its products, although its shares fell the least of the bellwethers in 2022 at -27%. Such is the need for smartphones in modern life, demand for the iPhone remains high even in a cost-of-living crisis. AAPL’s other devices are down 16% year-on-year (yoy), and there are expectations for something similar in Q323 – a warning sign to other consumer-centric brands that the difficult macro environment remains.

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May 15 2023, 07:00 IST/BST

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