Apple (AAPL) Look Through Uninspired F3Q to FY17 - Nomura
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Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Nomura Securities analyst, Jeffrey Kvaal, reiterated his Buy rating on shares of Apple (NASDAQ: AAPL) despite expecting mediocre results for the coming quarter. App store data reveals very healthy growth in iOS downloads and revenue trends. F3Q/4Q iPhone numbers look uninspired,
though early F1Q data points imply a return toward YoY growth in FY17. His thesis is that iOS subscriber growth will drive a return of 5-10% iPhone unit growth in 2017.
No change to $120 PT.
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 $99.87 yesterday.
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