Apple (AAPL) Estimates Lifted at Jefferies on iPhone Strength
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Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies analyst Sundeep Bajikar raised estimates and iPhone forecasts on Apple (NASDAQ: AAPL) Tuesday but maintained its Hold rating and $135 price target.
Bajikar commented, "We are raising our iPhone shipment forecast for JuneQ to 47m (from 39.5m, Street 45.5m), as our checks suggest iPhone upside potential from China, with mix shifting toward iPhone 6 (vs. 6+). Our US/Europe survey and global checks suggest robust demand for Samsung's Galaxy S6, with a mix skewed toward S6 Edge. Our survey suggests higher conversions from iOS to Android in JuneQ, in spite of muted new promotional activity from Samsung."
The firm called WWDC "Neutral."
Q3 EPS goes from $1.73 to $1.99, FY 2015 EPS goes from $9.11 to $9.21 and FY 2016 EPS goes from $9.51 to $9.64.
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 $127.80 yesterday.
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