Apple (AAPL) Shares Outperform Suppliers Into Launches - BofA/Merrill Lynch
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Rating Summary:
46 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 12
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BofA/Merrill Lynch analyst Wamsi Mohan highlights in a note to clients Friday that Apple (NASDAQ: AAPL) shares have historically outperformed a group of 95 significant suppliers heading into iPhone launches, especially major non-S launches like the current cycle.
"... we see that Apple shares typically perform well heading into a major iPhone launch. After the launch shares may pull back, and then have performed well again into the next cycle," Mohan commented.
The firm maintained a Buy rating and price target of $180 into the launch.
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 $153.18 yesterday.
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