BTIG Downgrades Apple (AAPL) to Neutral, Time to Take a Breather
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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
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BTIG downgraded Apple (NASDAQ: AAPL) from Buy to Neutral although they expect another blow-out quarter in Fiscal Q2 of $40 billion in revenue versus a sell-side consensus of $36 billion and EPS of $10.75 versus a sell side consensus of $9.81.
It's time for investors to take a breath the firm contends.
"We believe that investors should take a breather during the expected strength of this quarter and the rapid rise in the stock and take a moment to consider; -the changing dynamics in the post-paid wireless industry, which has seen margins squeezed by the frequent upgrade activity of iPhone customers, -the sustainability of a $600 iPhone and possible need for a price cut, and -the elevated expectation that the company will deliver another revolutionary product into the market."
"We expect post-paid wireless operators to remain firm in their plan to stunt the pace of phone upgrades in 2012 and we expect to see some initial evidence of their success in the current quarter," the firm continued.
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 $633.68 yesterday.
It's time for investors to take a breath the firm contends.
"We believe that investors should take a breather during the expected strength of this quarter and the rapid rise in the stock and take a moment to consider; -the changing dynamics in the post-paid wireless industry, which has seen margins squeezed by the frequent upgrade activity of iPhone customers, -the sustainability of a $600 iPhone and possible need for a price cut, and -the elevated expectation that the company will deliver another revolutionary product into the market."
"We expect post-paid wireless operators to remain firm in their plan to stunt the pace of phone upgrades in 2012 and we expect to see some initial evidence of their success in the current quarter," the firm continued.
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 $633.68 yesterday.
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