Apple (AAPL): Update From Japan - Mizuho

September 1, 2016 6:13 AM EDT
Get Alerts AAPL Hot Sheet
Price: $120.00 +0.18%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Mizuho Securities analyst, Abhey Lamba, reiterated his Buy rating on shares of Apple (NASDAQ: AAPL) after getting additional detail from the team in Japan. The Mizuho Japan team has largely maintained its iPhone procurement estimates for C2H16, although, production estimates are more fourth quarter weighted due to iPhone 7 ramp delays. The analyst maintains existing sell-in estimates going into C2H and notes that consensus iPhone estimate cuts have abated in recent months. He believes the reversal of estimate cuts is a "de-risking" and sees a compelling risk/reward on attractive valuation and potential upside due to the product cycle.

No change to the price target of $120.

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 $106.10 yesterday.

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