Apple (AAPL): Cutting Numbers Ahead of Earnings - Oppenheimer
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Oppenheimer analyst, Andrew Uerkwitz, reiterated his cautious view on Apple (NASDAQ: AAPL) ahead of the 3Q report on 7/26. He believes that questions (China, replacement cycle) debated in previous earnings will matter little, as investors will focus on iPhone 7 release in the fall. and that product cycle should be weak due to lack of major improvements.
He cut FY17 revenue/EPS estimates from $222B/$9.04 to $209B/$8.18 based on lower iPhone and Apple Watch shipments.
No change to Perform rating
Shares of Apple closed at $95.94 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
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