Apple Reports Record First Quarter Results

Apple (AAPL) Shares Near August Low

January 27, 2016 3:30 PM EST

Apple (NASDAQ: AAPL) declined Wednesday following the release of Q1 results. Broader markets weakness and lackluster results put the stock within striking distance $92, the intraday low from August 24, 2015.

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Goldman Sachs Keeps Top Rating on Apple (AAPL) Highlighting Massive 1B Installed Base

January 27, 2016 9:16 AM EST

Goldman Sachs analyst Simona Jankowski reiterated a Conviction Buy List rating and $155 price target on Apple (NASDAQ: AAPL) following results after the close. The analyst views the guidance as better than feared and highlights that the installed base is up 25% year-over-year.

Jankowski said they remain buyers of the stock with two key takeaways:

1) March qtr iPhone units were implied at 52mn or better, above... More

Apple (AAPL) PT Lowered to $135 at Nomura

January 27, 2016 7:50 AM EST

Nomura Securities analyst Jeffrey Kvaal reiterated a Buy rating on Apple (NASDAQ: AAPL) while lowering estimate sand his price target to $135.00 (from $145.00).

Kvaal commented, "Apple highlighted, repeatedly and perhaps excessively, macro and FX headwinds are pressuring March iPhone units. Our estimates and target... More

Drexel Hamilton's White Sees Buying Opportunity in Apple (AAPL) Ahead of Next Upgrade Cycle

January 27, 2016 7:27 AM EST

Drexel Hamilton analyst Brian White maintained his Buy rating and $200 price target on Apple (NASDAQ: AAPL) following Q1 results and lackluster guidance. The analyst said the reset ahead of the next iPhone cycle presents and attractive buying opportunity.

White highlighted:

Given the iPhone weakness in the late stages of this 6-Series and growing macro economic weakness around the world, it is not surprising that Apple's 2Q:FY16 outlook was soft but still within the range that we believe the market had thought was possible.As such, we believe... More

Apple (AAPL) Band-Aid Ripped Off, Cutting PT - FBR Capital

January 27, 2016 7:13 AM EST

FBR Capital analyst, Dan Ives, believes that Apple (NASDAQ: AAPL) hit the street's iPhone bogey but reduced his $150 PT to $130. The analyst believes that wearables could be the silver bullet for the company. He expects a second iWatch version to be released in March that "can start to move consumers toward this new avenue of technology growth and drive adoption... More

Mizuho Securities Remains Bullish on Apple (AAPL) as 1Q Results Come In-Line

January 27, 2016 7:11 AM EST

Mizuho Securities reiterated a Buy rating and $120.00 price target on Apple (NASDAQ: AAPL) following the company's 1Q earnings report. Apple reported revenues slightly below consensus and guided F2Q16 significantly below consensus. Total revenues of $75.9bn compared with consensus of $76.6bn. iPhone shipments... More

Apple (AAPL) Outlook In-Line with Buyside Expectations - RBC Capital

January 27, 2016 7:10 AM EST

RBC Capital analyst Amit Daryanani reiterated his Outperform rating and $130 price target on Apple (NASDAQ: AAPL) noting Q1 was better-than-expected and Q2 guidance was in-line with buyside expectations.

Daryanani commented, "AAPL reported an in-line Dec-qtr and guided Mar-qtr better than buyside expectations... More

Apple (AAPL) PT Lowered to $120 at UBS; 'Buy' Maintained

January 27, 2016 6:58 AM EST

UBS analyst Steven Milunovich maintained a Buy rating on Apple (NASDAQ: AAPL) but lowered estimates and his price target to $120.00 (from $130.00). Milunovich called the quarter 'solid' but the guidance 'light'.

Milunovich commented, "Apple made good on its prediction of iPhone unit growth and slightly... More

Piper Jaffray's Munster Trims PT on Apple (AAPL) to $172; Keeps 'Overweight'

January 27, 2016 6:47 AM EST

Piper Jaffray analyst Gene Munster maintained an Overweight rating but lowered his price target on Apple (NASDAQ: AAPL) to $172.00 (from $179.00) following Q1 results. The analyst said the guidance implies iPhones better than expected.

Munster commented, "Shares of AAPL are trading down ~3% in the aftermarket despite the company... More

Credit Suisse Lowers Estimates on Apple (AAPL) Post Q1; Keeps 'Outperform', $140 PT

January 27, 2016 6:39 AM EST

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... More

Apple (AAPL) PT Cut $20 to $120 at Stifel Post Q1

January 27, 2016 6:32 AM EST

Stifel analyst Aaron Rakers reiterated a Buy rating on Apple (NASDAQ: AAPL) but lowered his price target to $120.00 (from $140.00) following Q1 results after the close.

Rakers commented: "Investors are now left to balance Apples weaker F2Q16 (Mar 16 see below) outlook against already... More

Apple (AAPL) PT Trimmed to $130 at BMO Capital

January 27, 2016 6:30 AM EST

BMO Capital analyst Tim Long reiterated an Outperform on Apple (NASDAQ: AAPL) but trimmed his price target to $130.00 (from $133.00) following results after the close.

The analyst called the results Neutral. "iPhone guidance implies a big drop for the first time ever for... More

Oppenheimer Maintains Bullish View on Apple (AAPL) Following Q1; 'Patience Will Be Rewarded'

January 27, 2016 6:23 AM EST

Oppenheimer analyst Andrew Uerkwitz maintained an Outperform rating and $120 price target on Apple (NASDAQ: AAPL) following earnings after the close. They believe investors' patience will be rewarded, as Apple transitions to a recurring revenue-based model.

Uerkwitz commented, "Apple's December revenues and net profit broke... More

Apple (AAPL) seeing economic softness in China - Cook

January 26, 2016 5:09 PM EST

Apple (NASDAQ: AAPL) seeing economic softness in China, CEO Tim Cook said.

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Apple (AAPL) Results 'Better than Feared' - RBC Capital

January 26, 2016 4:58 PM EST

With quick initial thoughts on Apple (NASDAQ: AAPL) first quarter results after the close, RBC Capital analyst Amit Daryanani said they were 'better than feared.'

Net-net, he said: "AAPL reported Dec-qtr results that were ahead of expectations on EPS with a print of $75.9B/$3.28... More

Apple (AAPL) Declares $0.52 Quarterly Dividend; 2.1% Yield

January 26, 2016 4:41 PM EST

Apple (NASDAQ: AAPL) declared a quarterly dividend of $0.52 per share, or $2.08 annualized.

The dividend will be payable on February 11, 2016, to stockholders of record on February 8, 2016, with an ex-dividend date of February 4, 2016.

The annual yield on the dividend is 2.1 percent.

For a... More

Apple (AAPL) Tops Q1 EPS by 5c; Guides Q2 Revs Below the Street

January 26, 2016 4:31 PM EST

(Updated - January 26, 2016 4:37 PM EST)

Apple (NASDAQ: AAPL) reported Q1 EPS of $3.28, $0.05 better than the analyst estimate of $3.23. Revenue for the quarter came in at $75.9 billion versus the consensus estimate of $76.59 billion.

Gross margin was 40.1 percent, essentially in-line with the Street.

The company sold 74.78 million iPhones in the quarter,... More