Market Overview

UPDATE: Piper Jaffray Reiterates Apple at Overweight On Mac Sales NPD Data

Related AAPL
Dow Suffers 300 Point Drop; S&P 500 And NASDAQ Also Tumble
Ford's Defection From BlackBerry: More Than Just A Change In Smartphones
Know Before the Bell: Wall Street Jitters and Millennials' Spending Habits (Fox Business)

Piper Jaffray maintained Apple (NASDAQ: AAPL) with an Overweight rating and a $767.00 price target.

Piper Jaffray commented, "The first month of NPD Mac sales data is up 31% y/y, which we believe is driven by Apple catching up with iMac orders. We note that the company stated there was a 700k y/y iMac unit decline in the December quarter, which we believe was caused by supply issues around the redesigned iMacs. We remain comfortable with our down 5% y/y Mac expectation for March. While Macs are becoming a less and less meaningful piece of the story, we believe the core themes moving forward for AAPL are sequential margin improvement in June, a cheaper iPhone in September, and a TV in the December quarter."

Apple closed at $450.81 on Monday.

Posted-In: Piper JaffrayAnalyst Color Reiteration Analyst Ratings

 

Most Popular

Related Articles (AAPL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters