Wedbush Sees Upside to Estimates Based on New Apple (AAPL) iPad
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Rating Summary:
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Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 6 | New: 5
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Wedbush commented on Apple (NASDAQ: AAPL), saying they are positive on the new iPad with a 4G version. They expect this and the discounted iPad 2 to contribute to upside to their current iPad estimates. They also said the new 1080p Apple TV could move the device from its current hobby status.
"We remain buyers given valuation at 9x adjusted CY13E EPS and continued momentum driven by new devices, secular growth trends, and global expansion," analyst Scott Sutherland.
The firm's current iPad estimates for the March quarter (Q2) are 11.6 million and 55.6M units in FY12. They expect upside to this following the introduction of the new iPad and discounting of iPad 2.
The firm maintains their Outperform rating and price target of $585.00
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 $530.69 yesterday.
"We remain buyers given valuation at 9x adjusted CY13E EPS and continued momentum driven by new devices, secular growth trends, and global expansion," analyst Scott Sutherland.
The firm's current iPad estimates for the March quarter (Q2) are 11.6 million and 55.6M units in FY12. They expect upside to this following the introduction of the new iPad and discounting of iPad 2.
The firm maintains their Outperform rating and price target of $585.00
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 $530.69 yesterday.
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