Apple (AAPL): Monitor Soft in May - Drexel Hamilton
- S&P 500, Nasdaq hit fresh 2023 highs as Tesla rallies
- Bye bye bear... New S&P 500 bull market has legs - BofA
- GM teams with enemy Tesla on EV charging; A bigger surprise than Ford partnership says analyst
- Netflix (NFLX) shares gain on report of subscriber jump following password sharing crackdown
- Tesla (TSLA) now owns the charging ecosystem domestically - Wedbush bumps target on GM deal
Get Alerts AAPL Hot Sheet
44 Buy, 19 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 8 | New: 14
Join SI Premium – FREE
As Apple (NASDAQ: AAPL) enters the final months of the iPhone 6-series cycle before the iPhone 7 ramp begins, Drexel Hamilton analyst, Brian White, expects weakness in the supply chain. The analyst's Apple model estimates a bottom in the sales cycle, profit cycle and iPhone unit cycle in the June quarter.
May sales for The Apple Monitor fell by 1% MoM and were weaker than the average 5% increase over the past eleven years. Last May, sales for the Apple Monitor rose by 2% MoM. Also, Apple supplier Hon Hai reported an 8% MoM decline in May sales and weaker than the average of down 4% over the past eleven years but better than the down 14% in May 2015.
Moreover, they believe the "gloom and doom" sentiment engulfing the Apple story has reached extreme levels this year and we believe the stock represents an exceptional value. No change to Buy rating or $185 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 $99.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple (AAPL) PT Raised to $220 at Wedbush; 'Massive Position of Strength Heading into iPhone 15 Cycle'
- Canaccord says eVTOL TAM could be worth almost $58bn by 2033
- China Southern Airlines Co Ltd. (H-Shares) (1055:HK) (ZNH) PT Lowered to HK$6 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesDrexel Hamilton, Brian White
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!