Apple (AAPL) CEO Tim Cook has revealed that the company plans to ship over 1 million face masks by the end of this week and over 1 million per week after that.
“We’ve launched a company-wide effort, bringing together product designers, engineering, operations and packaging teams, and our suppliers to design, produce, and ship face shields for health workers,” Cook revealed in a Twitter video. The masks are shipped 100 per box and can be assembled in two minutes he added.
According to Cook, Apple has already sourced and donated over 20 million face masks.
Analysts are demonstrating a relatively positive outlook on Apple stock right now. Over the last three months the stock has received 25 buy ratings, vs just 8 hold ratings and 2 sell ratings. Meanwhile the average analyst price target of $312 indicates upside potential of almost 30%. (See AAPL’s stock analysis on TipRanks)
“With EPS growth positive again, AAPL is attractive compared to its historical valuations and to peer average multiples. Apple’s cash flow outlook is intact, and the stock is particularly attractive on DFCF valuation,” commented Argus Research analyst Jim Kelleher.
However, the analyst did warn investors that “Apple may see a multi-quarter impact on iPhones shipments, as the COVID-19 pandemic continue to rage worldwide.” That could include Apple delaying the launch of its 5G iPhones from September to 2021 said Kelleher.
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