Apple (AAPL): iPhone Sales DOWN Y/Y - Rosenblatt

September 30, 2016 9:56 AM EDT
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Price: $119.87 -0.11%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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Rosenblatt analyst, Jun Zhang, reiterated his Neutral rating on shares of Apple (NASDAQ: AAPL) and believes that factories did not ship enough iPhone 7/Plus units due to a slower production ramp on the Plus and black model in 3Q. This may have pushed more production into CQ4.

The analyst stated "initial sales of the iPhone 7 are still down YoY compared to the 6S. Sales of the iPhone 7 in China in the first ten days were down 15% YoY from the 6S (we might need to wait for the iPhone 7 to fully supply for a more accurate comparison). All legacy models (including the 6, 6S, 5S, and SE) are down YoY in September."

No change to the price target of $102.

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 $112.18 yesterday.

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