Apple CFO change 'modest negative' for shares, says KeyBanc - InvestingChannel

Apple CFO change ‘modest negative’ for shares, says KeyBanc

KeyBanc sees the CFO change at Apple as a “modest negative” for the shares. However, from a big picture, the change is not an indication of business performance, as the press release highlighted it as a planned succession and there are four months to ensure a smooth transition, the analyst tells investors in a research note. The firm believes Apple’s financial disclosures “could certainly be improved,” where more key performance indicators, such as installed base of active devices across products, unit sales by product, and paid subscriptions in services, “could all be useful metrics for investors.” However, KeyBanc doubts new management will make any changes. It keeps a Sector Weight rating on Apple shares.

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