Apple (AAPL): Update From Japan - Mizuho
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- After-Hours Stock Movers 10/20: (CERC) (ALKS) (PFPT) (MSFT) Higher; (SKX) (RRGB) (AMD) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Shares of Apple closed at $106.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple (AAPL) on Watch After BGR Reports Man Claims iPhone 7 Burst Into Flames
- Wedbush Cuts Price Target on Genuine Parts (GPC) to $95 Following 3Q
- Needham & Company Cuts Price Target on Syntel, Inc. (SYNT) Following Weak 3Q
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!