The Zacks Analyst Blog Highlights: Apple, Facebook, AbbVie, Illumina and Freeport-McMoRan

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For Immediate Release” data-reactid=”19″>For Immediate Release

Chicago, IL – March 10, 2020 – 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 AAPL, Facebook FB, AbbVie ABBV, Illumina ILMN and Freeport-McMoRan FCX.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here are highlights from Monday’s Analyst Blog: ” data-reactid=”21″>Here are highlights from Monday’s Analyst Blog:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Top Research Reports for Apple, Facebook and AbbVie” data-reactid=”22″>Top Research Reports for Apple, Facebook and AbbVie

The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 12 major stocks, including Apple, Facebook and AbbVie. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="You can see&nbsp;all of&nbsp;today’s&nbsp;research reports here &gt;&gt;&gt;” data-reactid=”24″>You can see all of today’s research reports here >>>

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apple’s shares have outperformed the S&amp;P 500 over the past six months (+33.2% vs. +1.6%). The Zacks analyst believes that the company is benefiting from continued momentum in the Services segment, driven by strong App Store sales and the robust adoption of Apple Music and Apple Pay.” data-reactid=”25″>Apple’s shares have outperformed the S&P 500 over the past six months (+33.2% vs. +1.6%). The Zacks analyst believes that the company is benefiting from continued momentum in the Services segment, driven by strong App Store sales and the robust adoption of Apple Music and Apple Pay.

Non-iPhone devices, particularly Apple Watch and AirPod, are expected to drive the top line. Solid uptake of Apple Watch Series 5 is now helping the iPhone maker strengthen its presence in the personal health monitoring space. However, the company doesn’t expect to achieve its second-quarter revenue guidance due to the COVID-19 outbreak, which is expected to hurt iPhone supply and demand in China.

This in turn will likely dent investor confidence in the near term. Moreover, the company’s intensifying legal woes due to antitrust investigations and App Store-related lawsuits raise a concern. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Shares of Facebook have gained +6.9% over the past year against the S&amp;P 500’s rise of +8.7%. The Zacks analyst believes that Facebook is benefiting from growth in Instagram Stories and Feed, and expanding user base in Asia Pacific.” data-reactid=”28″>Shares of Facebook have gained +6.9% over the past year against the S&P 500’s rise of +8.7%. The Zacks analyst believes that Facebook is benefiting from growth in Instagram Stories and Feed, and expanding user base in Asia Pacific.

The company’s initiatives to improve privacy, transparency and authenticity of ads are likely to boost user trust and engagement. The launch of Facebook View app, Facebook Pay, a simpler and faster Messenger for iOS app and more location control feature for Android users is positive.

However, Facebook expects top-line growth to slow down due to increasing limitations in tracking user activity amid the growing privacy-related regulations and changes made in mobile operating systems and browser platforms by Apple and Google as well as in its own tools like the Off Facebook Activity controls. Moreover, a persistent mix shift toward Stories is anticipated to hurt ARPU.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="AbbVie’s shares have gained +2.3% over the past three months against the Zacks Large-Cap Pharmaceuticals industry’s fall of -0.4%. The Zacks analyst believes that AbbVie’s Humira is performing well driven by strong demand trends amid new competition.” data-reactid=”31″>AbbVie’s shares have gained +2.3% over the past three months against the Zacks Large-Cap Pharmaceuticals industry’s fall of -0.4%. The Zacks analyst believes that AbbVie’s Humira is performing well driven by strong demand trends amid new competition.

Imbruvica has multibillion-dollar potential. AbbVie has been successful in expanding approvals for its cancer drugs, Imbruvica and Venclexta. It also has an impressive late-stage pipeline. It gained approvals for two new drugs with significant potential, Skyrizi and Rinvoq in 2019. Both are off to a strong start.

The acquisition of Allergan, if successful, should diversify AbbVie’s revenue base and accelerate its non-Humira business. AbbVie’s shares have outperformed the industry in the past one year. However, sales erosion due to direct biosimilar competition to Humira in international markets is a big headwind. Also, the decline in HCV sales is a concern.

Other noteworthy reports we are featuring today include Illumina and Freeport-McMoRan.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="More Stock News: This Is Bigger than the iPhone!” data-reactid=”35″>More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2020.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Click here for the 6 trades &gt;&gt;” data-reactid=”38″>Click here for the 6 trades >>

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