Apple sells more iPhones than expected, shares jump after hours

Apple (AAPL): The Worst is Behind Us - Needham & Company

Needham & Company analyst Laura Martin reiterated a Strong Buy rating and $150 price target on Apple (NASDAQ: AAPL) following Q3 results, proclaiming 'the worst is behind us'.

Martin commented, "AAPL reported FY3Q16 revenue of $42.358B (down 15% y/y), and EPS of $1.42 (down 23% y/y). Both were in line with our estimates. AAPLs fundamentals momentum should improve in FY4Q16 owing to the introduction of the iPhone 7, plus $400mm (our estimate) of Pokemon Go revenue at 100% margins, which we believe will allow faster EPS growth than guidance. AAPLs FY1Q17 should benefit from... More

Clear iPhone Inventory Tees Up Apple's (AAPL) 2nd-Half - Nomura

Nomura Securities analyst Jeffrey Kvaal reiterated a Buy rating and $120 price target on Apple (NASDAQ: AAPL) following better than feared Q3 results. The analyst said the inventory clearance tees up 2H16.

Kvaal commetned, "iPhone demand was evidently never as bad as Apple feared; F3Q shipments were slightly better... More

Apple (AAPL) PT Bumped to $115 at Macquarie Following Better-than-Expected Qtr, Outlook

Macquarie analyst Ben Schachter affirmed his Outperform rating and bumped his price target on Apple (NASDAQ: AAPL) to $115.00 (from $112.00) following better than expected results and guidance, driven by iPhone and Services.

Schachter commented, "We continue to focus on Services, particularly Apps, as we think it is still underappreciated by investors. In fact, we believe that the Services line contributed approximately 28% of gross profits in the quarter. With App Store sales growth of 37% y/y... More

Toughest Two Quarters Now Behind Apple (AAPL) - Mizuho

Mizuho Securities analyst Abhey Lamba reiterated a Buy rating and $120 price target on Apple (NASDAQ: AAPL) following in-line F3Q revenues while EPS was modestly better.

Lamba commented, "iPhone units were in-line with consensus while ASP was lower due to inventory... More

Apple (AAPL) Declares $0.57 Quarterly Dividend; 2.4% Yield

Apple (NASDAQ: AAPL) declared a quarterly dividend of $0.57 per share, or $2.28 annualized.

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

The annual yield on the dividend is 2.4 percent.

For a... More