Apple bull: Apple needs to 'stop focusing so much on iPhone' and build its other businesses [CNBC]
Boston Private Financial Holdings, Inc (BPFH)
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Source: CNBC
show chapters Apple 's move to ax device unit sales from future earnings reports is not all that troubling as the tech giant builds on its services segment and long-term goals, portfolio manager Timothy Lesko told CNBC on Tuesday. In order to do that, they really need to stop focusing so much on iPhone and focus on the rest of the businesses, the partner at Granite Investment Advisors said on Squawk Alley . Apple has drawn criticism for cutting iPhone, iPad and Mac unit sales from its reports, which will start in December. Following Thursday's announcement, shares dropped about 9.5 percent, and two Wall Street analysts had downgraded the stock by Monday. Lesko acknowledged that the unexpected announcement would cause a concern on the Street in the short run. That's going to provide a few quarters of volatility, Lesko said. But he remains bullish on the stock in the long run as Apple begins to focus on the service business along with its cons
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