Barclays Starts Apple (AAPL) at Overweight; Disruptive Force in Hardware; Raising Estimates Again Despite Economy
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Price: $445.15 +0.68%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade AAPL Now!
Barclays initiates coverage on Apple (NASDAQ: AAPL) with a Overweight. PT raised from $515 to $555.
Barclays analyst says, "On the back of our recent trip to Asia and checks within retail, our research continues to point to upside for iPhones, iPads, and Macs - even as the economy softens. Yes, the economy is a major concern for all companies but macro events don't seem to be impacting Apple's ascension as the primary disruptive force in hardware."
"Our new estimates factor in higher estimates for Macs, iPads and iPhones. We estimate fiscal 4Q EPS of $7.10 (was $6.50) based on 43% y/y revenue growth to $29.1B (was $27.5B). For FY11 we now estimate EPS of $27.73 based on 67% y/y revenue growth to $109.1B (was $107.5B). For FY12, we now estimate EPS of $34.45 (was $32.00) based on 32% y/y revenue growth to $144.0B (was $132.3B). For FY13, we now estimate EPS of $39.60 (was $36.80) based on 17% y/y revenue growth to $168.6B (was $154.9B)."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $401.82 yesterday, with a 52 week range of $275.00-$422.86.
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Barclays analyst says, "On the back of our recent trip to Asia and checks within retail, our research continues to point to upside for iPhones, iPads, and Macs - even as the economy softens. Yes, the economy is a major concern for all companies but macro events don't seem to be impacting Apple's ascension as the primary disruptive force in hardware."
"Our new estimates factor in higher estimates for Macs, iPads and iPhones. We estimate fiscal 4Q EPS of $7.10 (was $6.50) based on 43% y/y revenue growth to $29.1B (was $27.5B). For FY11 we now estimate EPS of $27.73 based on 67% y/y revenue growth to $109.1B (was $107.5B). For FY12, we now estimate EPS of $34.45 (was $32.00) based on 32% y/y revenue growth to $144.0B (was $132.3B). For FY13, we now estimate EPS of $39.60 (was $36.80) based on 17% y/y revenue growth to $168.6B (was $154.9B)."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $401.82 yesterday, with a 52 week range of $275.00-$422.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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