Auriga Reiterates a 'Buy' on Apple (AAPL); China, an Untapped Opportunity
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Price: $433.26 -0.3%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Auriga reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $700.00.
Analyst, Kevin Dede, said, "With the dust settling after Apple's March quarter earnings last week, a fresh review of some of the pronounced as well as some of the nuanced energy behind the strong results are worthy of study, in our opinion, particularly in light of the stock's recent whipsaws. Helping to catapult sales 59% year over year to $39.2B were the sales of 35 million iPhones, but these phones mostly likely did not sell as well in the America's as they did in that geography during the December quarter. However, March quarter sales in the Asia Pacific region of $10.2B were up 32% Q-Q and 114% Y-Y; the iPhone sold well in China and other rapidly growing APAC markets. Based on the success Apple is seeing in penetrating the China market and the opportunity ahead there, we are reiterating our rating."
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 $603.00 yesterday, with a 52 week range of $310.50-$644.00.
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Analyst, Kevin Dede, said, "With the dust settling after Apple's March quarter earnings last week, a fresh review of some of the pronounced as well as some of the nuanced energy behind the strong results are worthy of study, in our opinion, particularly in light of the stock's recent whipsaws. Helping to catapult sales 59% year over year to $39.2B were the sales of 35 million iPhones, but these phones mostly likely did not sell as well in the America's as they did in that geography during the December quarter. However, March quarter sales in the Asia Pacific region of $10.2B were up 32% Q-Q and 114% Y-Y; the iPhone sold well in China and other rapidly growing APAC markets. Based on the success Apple is seeing in penetrating the China market and the opportunity ahead there, we are reiterating our rating."
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 $603.00 yesterday, with a 52 week range of $310.50-$644.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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