Jefferies Reiterates Hold Rating, $500 PT on Apple on Slowing Demand, Margin Pressure
In a report published Wednesday, Jefferies reiterated its Hold rating and $500.00 price target on Apple (NASDAQ: AAPL).
Jefferies noted, “We believe the 4.8" iPhone 6 will not launch until June 2014 due to screen yield issues. We also analyze how Apple has been able to add functionality to the iPhone by using NAND price declines to subsidize other costs. We think the iPhone 5S will help GMs but that the iPhone 6 could hurt the iPhone GM by 200bp+. We remain concerned with slowing demand and margin pressure.”
Apple closed on Tuesday at $479.93.
Latest Ratings for AAPL
|Nov 2015||Goldman Sachs||Upgrades||Buy||Conviction Buy|
|Oct 2015||Jefferies||Initiates Coverage on||Hold|
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