Apple (AAPL) New Products In-Line with Expectations, Sees Shares Performing Well Into Year End - Mizuho
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Mizuho Securities analyst Abhey Lamba reiterated a Buy rating and $120 price target on Apple (NASDAQ: AAPL) after the company announced the iPhone 7 and the Apple Watch Series 2. The analyst notes the new products are largely in-line with expectations and they expect the stock to perform well into year-end.
Lamba commented, "Upgraded iPhone features include larger storage tiers and improved components while Watch upgrades include faster processor/GPU and built-in GPS. Apple could gain from improvement in product mix, which could help offset some margin pressure. We remain positive on the stock with a $120 PT."
Shares of Apple closed at $108.36 yesterday.
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