Kuo: Apple to Launch AirTags, Small Charging Mat, New iPads and Macs, High-End Headphones, and More in First Half of 2020
Apple plans to release several new products in the first half of 2020, including Ultra Wideband tags, high-end wireless headphones, a 4.7-inch iPhone, refreshed iPad Pro models, and refreshed MacBook Pro and/or MacBook Air models, according to the latest forecast from well-known Apple analyst Ming-Chi Kuo.
MacRumors uncovered evidence of a hidden "Items" tab in iOS 13 for "AirTags"
"We forecast that Apple's major new hardware products in 1H20 include the 4.7-inch LCD iPhone, iPad Pro, MacBook Pro/Air, smaller wireless charging mat, UWB tag, and a high-end Bluetooth headphone," wrote Kuo in a research note with TF International Securities, a copy of which was seen by MacRumors.
Our insight on these products:
4.7-inch iPhone: Apple is widely rumored to be planning to release a new low-cost iPhone with a similar design as the iPhone 8, including a 4.7-inch LCD display and a Touch ID home button, but with a faster A13 chip and 3GB of RAM. The device is expected to launch by the end of March, with pricing predicted to start at around $399 in the United States.
iPad Pro refresh: New models with a triple-lens rear camera system that supports 3D sensing for augmented reality are expected to be unveiled as early as March.
MacBook Pro/Air refresh: It is unclear if Kuo is referring to the possibility of either a new MacBook Pro or MacBook Air or both, but previous rumors suggest that a 13-inch MacBook Pro with a scissor switch-based Magic Keyboard will launch in the first half of 2020, following in the footsteps of the 16-inch MacBook Pro last October. Apple last refreshed the MacBook Air in July 2019 with a True Tone display and a lower $1,099 starting price.
Ultra Wideband tags: Last year, MacRumors uncovered evidence of Apple working on Tile-like item tracking tags in iOS 13 code, including a potential "AirTags" name. As with iPhone 11 models, Kuo believes the tags will support Ultra Wideband, which would likely make it possible to locate the tags with much greater accuracy than Bluetooth LE and Wi-Fi.
High-end headphones: Kuo did not provide any details about these headphones beyond claiming that they will support Bluetooth. Bloomberg's Mark Gurman previously reported that Apple-branded over-ear headphones were under development, but it is unclear if they were canceled, became the Beats Solo Pro, or otherwise. MacRumors has also uncovered evidence of Apple developing new Powerbeats4 headphones, but the existing Powerbeats3 are not considered high end.
Small wireless charging mat: No further details were shared. Apple canceled its much-anticipated AirPower charging mat last year due to quality concerns. That mat would have been able to charge an iPhone, Apple Watch, and AirPods case simultaneously, regardless of where each device was positioned on the mat and with deep iOS integration.
Farther out, Kuo said the worst scenario for Apple related to the new coronavirus outbreak would be postponing the qualification and mass production schedules for new products in the second half of the year.
"If there are no significant improvements regarding the coronavirus epidemic in the foreseeable future, we predict that Apple may delay new material adoptions or lower test requirements for components to shorten qualification processes and launch new products in 2H20 on schedule, and the lower spec will likely hurt the ASP of materials or components," wrote Kuo.
Gapping down
In reaction to disappointing earnings/guidance:
- XLNX -8.2% (also announces 7% global workforce reduction), CHRW -8.2% (also will acquire Prime Distribution for $225 mln), EBAY -5.2%, AMD -4.7%, ADP -3.4%, ANTM -2.9%, SLAB -2.1%, EAT -2%, TRMK -1.8%, RXN -1.6%, ALK -1.4%, IR -1.3%, MKTX -1.3%, LFUS -1.2%, SBUX -1%, BXP -0.7%, SKY -0.6%, BXP -0.6%, T -0.6%, MCD -0.5%
Other news:
- BHVN -11% (prices underwritten public offering of 4,830,917 of its common shares at a price to the public of $51.75 per share)
- CERS -3.6% (commences $50 mln public offering)
- DNLI -3.6% (prices offering of 7,826,087 shares of common stock at $23.00 per share)
- AMPH -3.4% (FDA issued a "MINOR" Complete Response Letter for its ANDA for Epinephrine Injection)
- ESTA -3.4% (commences $55 mln stock offering)
Analyst comments:
- GLP -2.1% (downgraded to Underweight from Neutral at JP Morgan)
- CPRI -2.1% (downgraded to Hold at Needham on low visibility)
- CAL -1.2% (downgraded to Hold at Needham on low visibility for 2020)
- NUE -1% (downgraded to Underweight from Neutral at JP Morgan)
Gapping up
In reaction to strong earnings/guidance:
- MTSI +12.7%, GE +6.2%, MSTR +5.6%, SC +5.5%, DT +5%, GLW +5%, MINI +4.9%, MXIM +4.2%, CMRE +2.8%, DOW +2.6%, WRB +2.1%, SYK +1.8%, AAPL +1.6%, MKSI +1.4%, MPC +1.3%, NDAQ +1.2%, BA +1.2%, SMG +1.1%, SWK +1%, RES +0.9%, NVR +0.7%, NYCB +0.6%, EXTR +0.6%, NVS +0.5%, TXT +0.5%, GD +0.5%
Other news:
- CTSO +13.6% (announces approval and availability of CytoSorb for the removal of ticagrelor during surgery requiring CPB in the EU)
- LB +11% (CEO Leslie Wexner aims to step aside amid push for strategic alternatives at Victoria's Secret, according to WSJ)
- ORTX +7.8% (receives orphan drug designation from the FDA for OTL-102)
- SRNE +6.7% (announces manufacturing collaboration with Celularity to initiate emergency allogeneic NK cell therapy development for coronavirus infection)
- TEVA +2.9% (FDA approval for AJOVY injection autoinjector device)
Analyst comments:
- FB +1.6% (upgraded to Strong Buy from Outperform at Raymond James)
- HOG +0.9% (upgraded to Sector Weight from Underweight at KeyBanc Capital Markets)
Early premarket gappers
- Gapping up:
- MTSI +12.7%, MSTR +5.6%, MINI +4.9%, MXIM +4.7%, TEVA +3.2%, CMRE +3%, STSA +2.5%, DT +2.3%, AAPL +2.2%, WRB +2.1%, SYK +1.8%, MKSI +1.4%, NVS +0.7%
- Gapping down:
- BHVN -9.7%, CHRW -8.2%, XLNX -7.8%, EBAY -4.9%, CERS -4.8%, DNLI -4.2%, AMD -3.7%, AMPH -3.4%, ESTA -3.4%, TRMK -1.8%, MTCH -1.7%, RXN -1.6%, SBUX -1.5%, ALK -0.7%, BXP -0.7%, SKY -0.6%, BXP -0.6%, AKCA -0.5%, ANTM -0.5%
UK house price growth picks up on strong labour market
Prices increase 1.9 per cent in January after glum 2019
January saw a small uptick in house price growth, continuing signs of a renewed dynamism in the sector after a year of only marginal increases.
Annual house price growth increased 1.9 per cent in January, according to the Nationwide House Price Index, rising from 1.4 per cent in December. The price rise month-on-month, after considering seasonal fluctuations, was 0.5 per cent.
“The underlying pace of housing market activity has remained broadly stable,” Robert Gardner, Nationwide’s chief economist, said, adding that the number of approved mortgages for purchasing homes fell within the “fairly narrow” range of the past 2 years.
“Healthy labour market conditions and low borrowing costs appear to be offsetting the drag from the uncertain economic outlook,” he said.
The small pick-up follows 12 successive months in which annual house price growth remained stuck at below 1 per cent.
Political uncertainty around a departure from the EU dissuaded buyers at the end of the weakest decade for house price growth since the 1990s. Prices rose 33 per cent across the decade compared to 180 per cent in the 1980s.
The average house price was £215,897 in January, compared to £215,282 the previous month.
>>> Up
* 3i Raised to Overweight at Morgan Stanley; PT 1,300 pence
* Autoliv GDRs Raised to Hold at ABG; PT 715 kronor
* Banco BPM Raised to Buy at HSBC; PT 2.30 euros
* Dialog Semi Raised to Buy at Hauck & Aufhaeuser; PT 49 euros (+)
* FirstGroup Raised to Hold at HSBC; PT 130 pence
* Lufthansa Raised to Buy at Berenberg
* Probi Raised to Hold at SEB Equities; PT 220 kronor
* Raisio Rated New Buy at SEB Equities; PT 4.30 euros
* Repsol Raised to Outperform at RBC; PT 15.50 euros
* Ryanair Raised to Hold at Berenberg; PT 14 euros
* TUI Raised to Buy at HSBC; PT 1,040 pence
* Whitbread Raised to Buy at HSBC; PT 5,200 pence
* William Hill Raised to Buy at HSBC; PT 230 pence
>>> Down
* Barry Callebaut Cut to Equal-Weight at Barclays
* Equinor Cut to Hold at Norne Securities; PT 180 kroner (+)
* Flutter Cut to Reduce at HSBC; PT 8,100 pence
* Grainger Cut to Neutral at Citi; PT 314 pence
* Greggs Cut to Reduce at HSBC; PT 2,000 pence
* Grifols Cut to Reduce at HSBC; PT 27 euros
* ITM Power Cut to Hold at Panmure Gordon; PT 104 pence
* Lenzing PT Cut to 60 euros from 80 euros at Berenberg
* Marston's Cut to Reduce at HSBC; PT 90 pence
* Restaurant Group Cut to Hold at HSBC; PT 150 pence
* Spar Nord Cut to Sell at SEB Equities; PT 60 kroner
* Stagecoach Cut to Reduce at HSBC; PT 125 pence
* Zealand Pharma ADRs Cut to Neutral at Kempen & Co; PT $38
>>> Initiation
* Idorsia Rated New Neutral at Goldman; PT 30 Swiss francs
* Merus BV Rated New Buy at Kempen & Co; PT $21
* Ubisoft Rated New Buy at SocGen; PT 83 euros
>>> Call
* Brewin Dolphin Trading Looks Good Compared to Peers, RBC Says (+)
* 3i Group Upgraded, Has Scope to Re-Rate, Morgan Stanley Says
* Ferragamo 4Q Sales in Line, But There Are Some Positives: MS
* Kone Already Priced in Some Thyssenkrupp Elevator Benefits: MS
* Lufthansa Top Europe Airline Pick, Ryanair Upgraded: Berenberg
* LVMH May Open Lower Given Stock Positioning Before 4Q Update: MS
* Repsol Double-Upgraded at RBC on Better Risk-Reward Than Peers
* Telia Shares Set to Outperform After Earnings: Handelsbanken
* Telenor 4Q Results ‘Solid Overall,’ Morgan Stanley Says (+)