Wells Fargo Reiterates an 'Outperform' on Apple (AAPL); Shares Underappreciated Into IP5 Launch
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Price: $305.93 --0%
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Wells Fargo reiterates an 'Outperform' on Apple (NASDAQ: AAPL) price target range $740-$760.
Analyst, Maynard Um, said, "We expect iPhone 5 sales to exceed those of iPhone 4S (4MM sold in first 3 days) given Apple is launching more carriers in a shorter timeframe and considering pent-up demand. We raise our FQ4 EPS estimate to $8.82 from $8.44 as our forecasts originally anticipated an October launch (raise iPhone units & ASP slightly - we maintain our sequential gross margin decline though note some potential for buffer if warranty expense overaccruals reverse out)."
FY12 EPS estimate raised from $8.44 to $8.82.
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.
Analyst, Maynard Um, said, "We expect iPhone 5 sales to exceed those of iPhone 4S (4MM sold in first 3 days) given Apple is launching more carriers in a shorter timeframe and considering pent-up demand. We raise our FQ4 EPS estimate to $8.82 from $8.44 as our forecasts originally anticipated an October launch (raise iPhone units & ASP slightly - we maintain our sequential gross margin decline though note some potential for buffer if warranty expense overaccruals reverse out)."
FY12 EPS estimate raised from $8.44 to $8.82.
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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