Top Research Reports for Apple, Amazon & Chevron

Sheraz Mian
·7-min read

Monday, September 21, 2020

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 (AAPL), (AMZN) and Chevron (CVX). 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 shares have lost ground lately, but this comes after a phenomenal run this year with thge stock still up +45.5% vs. +3% for the S&P 500 index and +18.5% for the Zacks Tech sector. Driving this outperformance has been the company's strong gains on the services side, a trend that the Zacks analyst believes will only accelerate in the coming periods. 

Moreover, Apple devices also continued to gain traction among enterprises, particularly healthcare providers. Although Apple didn’t provide any guidance due to uncertainties triggered by the coronavirus pandemic, it expects fiscal fourth-quarter iPhone sales to benefit from strong demand for iPhone SE.

Further, Apple stated that sale of new iPhones will begin a few weeks later against the usual late September. It also expects iPad and Mac to post strong year-over-year growth. Further, Apple Watch and AirPod are other notable drivers in the long haul. However, increasing scrutiny and legal woes over App Store is a headwind.

(You can read the full research report on Apple here >>>)

Amazon has been a big beneficiary of the pandemic and its impact of business and our lives. Not only have trends on the online sales side been accelerated in a major way, but the outlook for the company's cloud unit has also improved significantly as a result. No doubt the stock is up +65.6% over the past year against the S&P 500’s rise of +11.4% gain.

The Zacks analyst believes that strong adoption rate of AWS is aiding the company’s cloud dominance. Moreover, expanding AWS portfolio is contributing well. Additionally, improving Alexa skills and features are positives.

Amazon has been benefiting from the coronavirus-led spike in online orders. Further, solid growth in its online stores sales is driving the top-line growth. Moreover, surge in online grocery shopping is a major positive. Additionally, solid Prime momentum owing to ultrafast delivery services and expanding content portfolio remains a tailwind.

Also, expanding smart home products offerings are tailwinds. However, accelerating coronavirus related expenses might hurt the company’s profitability in the near term. Also, foreign exchange headwinds and rising cloud competition are concerns.

(You can read the full research report on Amazon here >>>)

Chevron shares have gained +44.2% over the past six months against the Zacks Integrated Oil industry’s rise of +16.8%. The Zacks analyst expects Chevron’s proposed Noble Energy takeover deal to expand its footprint in the DJ Basin and the Permian Basin along with cash-generating offshore assets in Israel.

While the company reported a big Q2 loss, it vowed to keep its dividend and reported impressive U.S. production growth thanks to strength in the Permian Basin. However, Chevron is not immune to commodity price crash, forcing it to cut capex and suspend buybacks.

The company’s high oil price sensitivity is another concern. Moreover, the supermajor’s reserve replacement ratio of 44% is indicative of its inability to add proved reserves to its reserve base to the amount of oil and gas produced.

(You can read the full research report on Chevron here >>>)

Other noteworthy reports we are featuring today include AstraZeneca (AZN), QUALCOMM (QCOM) and TOTAL (TOT).

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Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Robust Portfolio, Services Strength to Benefit Apple (AAPL)

Surge in Online Orders & AWS Momentum Benefit Amazon (AMZN)

Chevron (CVX) to Boost Permian Position with Noble Buy

Featured Reports

Cancer Drugs Push AstraZeneca's (AZN) Sales, Pipeline Solid

The Zacks analyst believes that AstraZeneca's cancer drugs, Lynparza, Tagrisso and Imfinzi, should keep driving revenues in 2020.

Qualcomm (QCOM) Rides on Huawei Deal, 5G Chip for Masses

Per the Zacks analyst, Qualcomm is likely to benefit from the long-term patent license agreement with Huawei and launch of low-priced 5G chips for a seamless transition to 5G networks.

LNG Focus, Strong Production Portfolio Aid TOTAL (TOT)

Per the Zacks analyst TOTAL's focus to develop LNG assets globally and its strong production growth through new startups are likely to boost its performance.

Intuit (INTU) Rides on Product Refresh, Higher Subscriptions

Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers.

Growing Adoption of da Vinci Aids Intuitive Surgical (ISRG)

Per the Zacks analyst, the rapidly increasing adoption of Intuitive Surgical's robot-based da Vinci surgical system continues to drive the company's growth prospects.

Fiserv (FISV) Rides on Buyouts, Product Suite Amid Debt Woes

The Zacks analyst likes Fiserv's acquisition strategy to widen its client base and enhance its product portfolio.

Boston Scientific's (BSX) MedSurg to Recover Faster in Pandemic

The Zacks analyst expects the MedSurg arm, with a higher mix of non-deferrable procedures, to recover faster than the rest of Boston Scientific's business segments.

New Upgrades

Strategic Acquisitions Boost TopBuild's (BLD) Prospects

The Zacks analyst stresses that TopBuild's systematic inorganic strategy will supplement its organic growth and expand access to additional markets and products.

Delphi (DLPH) Gains From Product Innovation, Global Presence

The Zacks analyst believes that Delphi's global presence along with its diversified and innovative product portfolio makes it original equipment manufacturers' choice.

Amerisafe (AMSF) Benefits From Strong Cash Flows & No Debt

Per the Zacks analyst, its balance sheet with no debt provides plenty of financial flexibility, which poises it well for growth.

New Downgrades

Allstate (ALL) Rides on Strong Property-Liability Segment

Per the Zacks analyst, premium growth in the Property-Liability Segment remains strong owing to pricing discipline and strong claims management that has contributed to topline growth.

Delta (DAL) Hurt by Coronavirus-Led Weak Air-Travel Demand

The Zacks analyst is concerned about the coronavirus-induced suppressed travel demand, which is weighing significantly on Delta's passenger revenues.

Asset Sales, Uncollected Rent Remain Woes for Vornado (VNO)

Per the Zacks analyst, the near-term earnings' dilutive impact from Vornado's asset sales cannot be ignored. Also, uncollected retail rents due to the pandemic-led disruptions are a major concern.

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TOTAL S.A. (TOT) : Free Stock Analysis Report
QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
Chevron Corporation (CVX) : Free Stock Analysis Report
AstraZeneca PLC (AZN) : Free Stock Analysis Report, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
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