Apple (AAPL) Estimates Cut at Citi
Get Alerts AAPL Hot Sheet
Price: $168.00 --0%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 12
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 12
Join SI Premium – FREE
(Updated - July 5, 2016 7:16 AM EDT)
Citi cut estimates on Apple (NASDAQ: AAPL) for the next two quarters citing lower demand on Brexit, forex volatility and longer replacement cycles.
The firm cut Q3 EPS from $1.40 to $1.35 and Q4 from $1.63 to $1.54.
The firm cut Q3 iPhone estimates from 41 million units to 40.3 million units. They now see replacement rates of 30-36 months versus 24 months in 2013 and 28 months more recently.
The firm maintained a Buy rating and $115 price target.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Maxim Group Starts Apple (AAPL) at Hold, 'Dead Money'
- Deutsche Bank Downgrades Cabot Corp. (CBT) to Hold
- JPMorgan Upgrades JetBlue Airways (JBLU) to Neutral, 'second least-liked airline based on sellside rating'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Hot CommentsRelated Entities
CitiSign 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!