Barclays Reiterates an 'Overweight' on Apple (AAPL); F2Q Report Should Alleviate Many Concerns
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Price: $442.14 +0.18%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
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Barclays reiterates an 'Overweight' on Apple (NASDAQ: AAPL), PT increased from $450 to $465.
Barclays analyst says, "Apple posted another very strong quarter driven by a hefty iPhone beat and strong notebooks. The iPad unit shortfall appears to be supply related and units should snap back in C2Q. With positive comments around component supply and better than expected gross margin guidance, we believe investors should be very pleased with this report."
"Given higher Mac and iPhone revenues, we now estimate FY11 EPS of $24.30 (was $23.50) based on 57% y/y revenue growth to $102.3 billion (was $103.8 billion). For FY12, we now estimate EPS of $28.00 (was $27.00) based on 19% y/y revenue growth to $122 billion (was $121.5 billion). We are also initiating an FY13 EPS estimate of $31.80 based on 15% y/y revenue growth to $140.2 billion."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $342.41 yesterday, with a 52 week range of $199.25-$364.90.
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Barclays analyst says, "Apple posted another very strong quarter driven by a hefty iPhone beat and strong notebooks. The iPad unit shortfall appears to be supply related and units should snap back in C2Q. With positive comments around component supply and better than expected gross margin guidance, we believe investors should be very pleased with this report."
"Given higher Mac and iPhone revenues, we now estimate FY11 EPS of $24.30 (was $23.50) based on 57% y/y revenue growth to $102.3 billion (was $103.8 billion). For FY12, we now estimate EPS of $28.00 (was $27.00) based on 19% y/y revenue growth to $122 billion (was $121.5 billion). We are also initiating an FY13 EPS estimate of $31.80 based on 15% y/y revenue growth to $140.2 billion."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $342.41 yesterday, with a 52 week range of $199.25-$364.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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