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Moody’s lifts Apple’s rating to ultra-elite status

Justin Rowell by Justin Rowell
29.09.2022
Home Computing

On December 21st, Moody’s upgraded Apple to its highest “AAA” rating, a debt upgrade that comes on the heels of an equity upgrade by Bank of America.

Apple Park in Cupertino, CaliforniaApple Park in Cupertino, California

Billy Duberstein for The Motley Fool:

After the upgrade, it is one of only three companies to enjoy that ultra-elite status, along with Microsoft and Johnson & Johnson.

The honor is quite a change from just five years ago, when Apple was regarded by many as nothing more than a cyclical device maker, rather than a sticky brand ecosystem with highly loyal customers and an emerging recurring-services division.

Of course, Warren Buffett (who also owns Moody’s stock, coincidentally) was smart enough to see Apple differently, and began buying the stock back in 2016, with a current split-adjusted average cost basis of $34.25, compared with a price around $178 today…

While the Moody’s upgrade reflects a better view of Apple’s safety profile, the company also received a positive note from equity analysts at Bank of America (another Warren Buffett holding!) on Dec. 14. Analyst Wamsi Mohan thinks Apple is in for a strong iPhone upgrade cycle in fiscal 2023, and he predicts it will also introduce a virtual reality headset that year as well.

Technovanguard Take: $3 trillion and beyond, here we come!

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The post Moody’s lifts Apple’s rating to ultra-elite status appeared first on Technovanguard.


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