Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Checks Indicate Continued iPhone Share Gains
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Price: $168.54 +0.98%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $560.00.
Canaccord analyst, T. Michael Walkley, said, "Our November checks indicated strong global iPhone sales with Apple share gains versus Android smartphones in the US and Western Europe. As a result, we are increasing our December quarter iPhone sales estimates and overall Apple estimates, offset by slightly reduced iPad sell-in estimates...we anticipate strong December quarter iPhone sales and increased our estimate from 29.0 to 30.5M units...With our expectations for a new iPad launch during the March quarter leading to potentially lower inventory levels combined with increased competition from the $200 Kindle Fire, we have slightly lowered our December quarter iPad estimates from 14M to 13M units."
"Due to our increased iPhone estimates slightly offset by our lower iPad
estimates, we have increased our F2012 pro forma EPS estimate from $33.52 to $34.16 and our F2013 estimate from $39.96 to $40.02."
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 $393.01 yesterday.
Canaccord analyst, T. Michael Walkley, said, "Our November checks indicated strong global iPhone sales with Apple share gains versus Android smartphones in the US and Western Europe. As a result, we are increasing our December quarter iPhone sales estimates and overall Apple estimates, offset by slightly reduced iPad sell-in estimates...we anticipate strong December quarter iPhone sales and increased our estimate from 29.0 to 30.5M units...With our expectations for a new iPad launch during the March quarter leading to potentially lower inventory levels combined with increased competition from the $200 Kindle Fire, we have slightly lowered our December quarter iPad estimates from 14M to 13M units."
"Due to our increased iPhone estimates slightly offset by our lower iPad
estimates, we have increased our F2012 pro forma EPS estimate from $33.52 to $34.16 and our F2013 estimate from $39.96 to $40.02."
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 $393.01 yesterday.
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