Credit Suisse Lowers Estimates on Apple (AAPL) Post Q1; Keeps 'Outperform', $140 PT
Credit Suisse analyst K. Garcha lowered estimates but maintained an Outperform rating and $140 price target on Apple (NASDAQ: AAPL) post Q1.
Garcha commented, "We maintain our Outperform rating, and adjust our EPS estimates to $8.92/$10.20. After much market speculation, Apple finally confirmed that the iPhone business may enter a period of decline with its March quarter guidance. (We continue to see evidence of a subdued iPhone 6s cycle.)"
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Shares of Apple closed at $99.99 yesterday.