Goldman Sachs Keeps Top Rating, Lifts Price Target on Apple (AAPL); Fastest Rollout Ever
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Price: $305.93 +0.22%
Rating Summary:
44 Buy, 29 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
44 Buy, 29 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs boosted its price target on Conviction Buy List-rated Apple (NASDAQ: AAPL) from $790 to $810 following the release of the iPhone 5.
The firm is calling it a "Major iPhone redesign" and they said the rapid rollout will drive further upside.
"The iPhone 5 will begin shipping in nine countries on September 21 and reach a total of 100 countries by year end, making it Apple's fastest phone rollout ever." This fast rollout also suggests recent fears over severe supply constraints were overblown.
Goldman expected the iPhone 5 and iOS 6 "to serve as a powerful driver of earnings upside in the December quarter and into 2013."
For FY2013, the firm forecast iPhone units of 165.3 million on total revenues of $186.41 billion and EPS of $53.07, versus 164.6 million, $185.78 billion, and $52.16 previously. FY2014 estimates increase to revenues of $223.81 billion and units of 221.4 million with EPS of $64.87, from $223.56 billion, 221.1 million and $64.33 previously.
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 $669.79 yesterday.
The firm is calling it a "Major iPhone redesign" and they said the rapid rollout will drive further upside.
"The iPhone 5 will begin shipping in nine countries on September 21 and reach a total of 100 countries by year end, making it Apple's fastest phone rollout ever." This fast rollout also suggests recent fears over severe supply constraints were overblown.
Goldman expected the iPhone 5 and iOS 6 "to serve as a powerful driver of earnings upside in the December quarter and into 2013."
For FY2013, the firm forecast iPhone units of 165.3 million on total revenues of $186.41 billion and EPS of $53.07, versus 164.6 million, $185.78 billion, and $52.16 previously. FY2014 estimates increase to revenues of $223.81 billion and units of 221.4 million with EPS of $64.87, from $223.56 billion, 221.1 million and $64.33 previously.
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 $669.79 yesterday.
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