Analyst Revises Shipment Estimates Ahead of Apple's (AAPL) iPhone 5; Reiterates Buy
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Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 5 | New: 6
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ISI Group's Brian Marshall reduced estimates for Apple (Nasdaq: AAPL) iPhone shipments during the third quarter from 30 million to 28 million in a research note Wednesday morning. The analyst boosted his fourth-quarter and first-quarter estimates from 24 million and 49 million to 26 million and 50.9 million, respectively. Marshall said the lowered shipment estimate for the present quarter comes ahead of the release of the iPhone 5.
The ISI analyst is modeling for Apple to ship more than 43 million iPhone 5 devices in the first full quarter, up a very sharp 30 percent from the iPhone 4S's first full quarter.
Marshall believes the Worldwide Developer's Conference on June 11th-15th could be a potential catalyst for Apple.
The analyst reiterated a Buy rating and $750 price target on shares of Apple. Marshall calls Apple one of ISI's top ideas.
Apple shares have just opened down about 0.3 percent to $570.40.
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The ISI analyst is modeling for Apple to ship more than 43 million iPhone 5 devices in the first full quarter, up a very sharp 30 percent from the iPhone 4S's first full quarter.
Marshall believes the Worldwide Developer's Conference on June 11th-15th could be a potential catalyst for Apple.
The analyst reiterated a Buy rating and $750 price target on shares of Apple. Marshall calls Apple one of ISI's top ideas.
Apple shares have just opened down about 0.3 percent to $570.40.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Apple.
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