Canaccord Genuity maintains a 'Buy' on Apple (AAPL); Checks Indicate Strong Sales Ahead of iPhone 5 Launch
Tweet Send to a Friend
Get Alerts AAPL Hot Sheet
Price: $442.14 --0%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 5 | New: 7
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 5 | New: 7
Trade AAPL Now!
Canaccord Genuity maintains a 'Buy' on Apple (NASDAQ: AAPL) price target raised to $545.
Canaccord analyst, T. Michael Walkley, said, "Our August channel checks indicated strong sell-through trends for both the iPhone and iPad. Based on solid demand trends for iPhone/iPad, poor sell-through trends for competing tablet offerings, and the ramping iOS ecosystem driving longer-term replacement sales, we believe Apple will maintain dominant value share of both the tablet and smartphone markets to drive healthy long-term earnings growth...As a result, we are raising our 2011 pro forma EPS estimate from $26.37 to $27.29 and our 2012 estimate from $30.29 to $32.13."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $374.05 yesterday, with a 52 week range of $254.50-$404.50.
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
Canaccord analyst, T. Michael Walkley, said, "Our August channel checks indicated strong sell-through trends for both the iPhone and iPad. Based on solid demand trends for iPhone/iPad, poor sell-through trends for competing tablet offerings, and the ramping iOS ecosystem driving longer-term replacement sales, we believe Apple will maintain dominant value share of both the tablet and smartphone markets to drive healthy long-term earnings growth...As a result, we are raising our 2011 pro forma EPS estimate from $26.37 to $27.29 and our 2012 estimate from $30.29 to $32.13."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $374.05 yesterday, with a 52 week range of $254.50-$404.50.
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
You May Also Be Interested In
- iPhone Sell-Through Tracking Ahead of Consensus, Says Morgan Stanley (AAPL)
- Samsung Galaxy S4 Hits 10M Unit Sales in Record Time (AAPL)
- Corporate Stock Buybacks Driving Today's Action?
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Earnings
Login with Facebook
Sign 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!
