Credit Suisse Raises Numbers on Apple (AAPL)
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Price: $439.66 -0.74%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade AAPL Now!
Credit Suisse raised estimates on Apple (NASDAQ: AAPL) Thursday following strong results after the close.
The firm raised for FY11/12 by 2% to $25.70/$33.16, which is 11% and 23% above the consensus.
"We maintain that Apple should be able to deliver outsized revenue/ earnings growth of 48% over the next two years given a sustained competitive advantage in software, hardware and services/ apps ecosystem. On our CY12 estimate, Apple trades on a P/E multiple (ex-cash) of 8.1x, which is inexpensive, given the EPS growth of 48% over the next two years. "
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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The firm raised for FY11/12 by 2% to $25.70/$33.16, which is 11% and 23% above the consensus.
"We maintain that Apple should be able to deliver outsized revenue/ earnings growth of 48% over the next two years given a sustained competitive advantage in software, hardware and services/ apps ecosystem. On our CY12 estimate, Apple trades on a P/E multiple (ex-cash) of 8.1x, which is inexpensive, given the EPS growth of 48% over the next two years. "
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
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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