Jefferies Cuts Estimates On Apple (AAPL) Citing Later iOS 5 and iPhone 5 Launches
Tweet
Share
E-mail
Get Alerts AAPL Hot Sheet
Price: $165.00 -1.22%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Jefferies cut estiamtes on Apple (NASDAQ: AAPL) citing later iOS 5 and iPhone 5 launches, but kept its Buy rating and $450 price target.
"We believe that iOS 5 and the iPhone 5 (both previously expected this summer)
are now unlikely to be available earlier than this fall as Apple incorporates new
cloud-based services," analyst Peter Misek stated.
2011 revenue estimate go from $106.9 billion to $103 billion and and 2012 from $140.6 billion to $133.9 billion. 2011 EPS goes from $24.17 to $23.03 and 2012 from $29.92 to $28.02.
Misek notes that market chatter the past few days is putting the iOS 5 preview at WWDC with launch in late summer/early fall, and iPhone 5 launch in Sep/Oct.
While cutting estimates, they remain above consensus and still like the name. The analyst sees strong results when they report on 4/20 due to stronger than expected iPad sales and continued iPhone strength. Guidance should be strong, but not "blowout" due to some hesitation around Japan supply, particularly regarding margins.
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $350.44 yesterday.
"We believe that iOS 5 and the iPhone 5 (both previously expected this summer)
are now unlikely to be available earlier than this fall as Apple incorporates new
cloud-based services," analyst Peter Misek stated.
2011 revenue estimate go from $106.9 billion to $103 billion and and 2012 from $140.6 billion to $133.9 billion. 2011 EPS goes from $24.17 to $23.03 and 2012 from $29.92 to $28.02.
Misek notes that market chatter the past few days is putting the iOS 5 preview at WWDC with launch in late summer/early fall, and iPhone 5 launch in Sep/Oct.
While cutting estimates, they remain above consensus and still like the name. The analyst sees strong results when they report on 4/20 due to stronger than expected iPad sales and continued iPhone strength. Guidance should be strong, but not "blowout" due to some hesitation around Japan supply, particularly regarding margins.
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $350.44 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple's (AAPL) Offer To Open Up Tap-and-go Tech To Be Approved By EU Next Month, Sources Say - Reuters
- Intuitive Surgical (ISRG) PT Raised to $375 at Jefferies
- L'Oreal stock jumps as Q1 sales rise after dermatological beauty outperformance
Create E-mail Alert Related Categories
Analyst Comments, Hot CommentsRelated Entities
Jefferies & CoSign 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!
