Deutsche Bank Cuts Estimates on Apple (AAPL); Transition Worm Found

Deutsche Bank maintains a 'Buy' on Apple (NASDAQ: AAPL) price target of $650.00.

Deutsche analyst, said, "We believe weak results largely reflect a demand pause ahead of iPhone 5. As such, we cut CY12 revenue/EPS to $168.0B/$46.50 (vs. prior $172.3B/$50.00) but CY13 rev est’s tick up to $199.4B/$56.00 (vs. prior $197.5B/$56.00). Our $650 PT is based on ~10x CY12E EV/FCF; the lower end of its historical 7-29x range. We view the multiple as appropriate given AAPL’s growth & profit profile. Risks include macro deterioration, ASP declines & additional phone competition."

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 $600.92 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• KeyBanc Reiterates Underweight Rating on Apple (AAPL)
• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker