Apple (AAPL) Likely to Report Upside From iPad Sales - Citi

Citi analyst Jim Suva reiterated a Buy rating and $125.00 price target on Apple (NASDAQ: AAPL) ahead of earnings on Thursday, October 29th. Management is expected to highlight Apple’s multiple and diverse product revenue streams and showcase the company’s installed base and subscriber monetization efforts.

The analyst stated "we expect upside to estimates could be driven by iPads, Macs and Wearables (~30-35% of revenues) as work from home and stay at home trends continued to drive uptick in consumer tech spending during the quarter. Note iPad revenues grew by more than 30% y/y in the June quarter and given the new iPad launch at a slightly higher point, we could see revenue growth accelerating in the September quarter".

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 $113.71 yesterday.

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