Since our preliminary note on September 25, 2020, Elys’s share price is up 100%. ELYS is currently focused on entering the U.S. market, and uplisted its shares to the NASDAQ in December 2019.
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We had predicted the decline in iPhone sales as Apple had announced earlier that their new iPhone 12 series will only be launched after the fiscal year-end. We expect a strong Q1-FY2021 based on sales from iPhone 12.
Wearables, home, and accessories, and services reported strong revenue growth. Although we are concerned about increasing competition for iPhone, we are slightly raising our revenue and EPS forecasts for FY2021 based on stronger growth in wearables, home and accessories, and services. Our forecasts are on the conservative-end of consensus forecasts.
Highlights: Q1-FY2021 (quarter ended September 30, 2020) revenue was up 12% YoY, inline with our expectation, but beat market consensus by 4%. As expected, revenue was driven by a surge in demand for cloud services amid a work from home environment due to the pandemic. We expect a high percentage of businesses to move to a permanent work-from-home environment, even after the pandemic. This is positive for MSFT, and other cloud providers, as the recent surge in demand for cloud products will likely stay.
Read MoreDid you miss the Newgioco webinar? Want to know more about one of the most advanced sports betting platform techs to launch in the U.S. market.? Newgioco Group’s (NASDAQ: NWGI) Chairman and CEO, Mike Ciavarella, discussed how...
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We will be resuming coverage on NWGI shortly. Since our previous report in September 2019, the company has made significant progress on a number of fronts. In December 2019, its shares were uplisted from the OTC to NASDAQ, while completing a 8:1 share consolidation.
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