Apple (AAPL): Lack Of Weekend iPhone Sales Update Likely Due To Component Supply Constraints - RBC

September 9, 2016 7:20 AM EDT
Get Alerts AAPL Hot Sheet
Price: $119.04 -0.18%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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RBC Capital analyst, Amit Daryanani, reiterated his Outperform rating on shares of Apple (NASDAQ: AAPL) and is not put off by the lack of a a first weekend iPhone sales updates. He believes the hesitancy to provide short run updates is due to potential component shortages (e.g. the dual carmera). Fundamentally, expectations are tempered for the iPhone 7 cycle (more focus on 2017 launch already), so lack of weekend update should not be a huge negative (most expected lower iPhone 7 weekend sell thru vs. 6S on buyside).

No change to the price target of $117.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $105.52 yesterday.

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