BMO Capital Latest to Call Apple (AAPL) Component News "Old"
BMO Capital's Keith Bachman was the latest to weigh in on Apple (NASDAQ: AAPL) following reports of order cuts for iPhone 5 components.
"We believe that this is consistent with news and reports that were circulated in mid-December," the analyst notes. "For example, we lowered our total iPhone unit forecast on December 17 to 41 million units for the March Q. Hence, we believe that the news flow today is old news."
Bachman maintained an Outperform rating and price target of $670.00.
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 $520.30 yesterday, with a 52 week range of $418.66-$705.07.
"We believe that this is consistent with news and reports that were circulated in mid-December," the analyst notes. "For example, we lowered our total iPhone unit forecast on December 17 to 41 million units for the March Q. Hence, we believe that the news flow today is old news."
Bachman maintained an Outperform rating and price target of $670.00.
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 $520.30 yesterday, with a 52 week range of $418.66-$705.07.