Apple (AAPL) Numbers May Need to Come Down After AT&T iPhone Numbers - Jefferies

Jefferies analyst Peter Misek weighed in on Apple (NASDAQ: AAPL) after AT&T (NYSE: T) reported it activated 4.3 million iPhones in their latest quarter, which was 1.7 million less than their estimates of 6 million.

Misek said the numbers may imply cuts are needed to its Q2 estimates for Apple. He now expects 28-30 million iPhone shipments in the quarter, versus his prior view of 32 million.

Still he said carrier subsides are not eroding and the iPad opportunity is underestimated.

He reiterated his Buy rating and price target of $800.

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 $571.70 yesterday.

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