Market Overview

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

Share:
Related AAPL
Why Ironfire Capital's Founder Doesn't Own Apple And Doesn't Plan To
The Car Will Be Apple's Next Triumph
Is It Time To Sell Skyworks Solutions? (Seeking Alpha)

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.

Latest Ratings for AAPL

DateFirmActionFromTo
Jul 2015NomuraInitiates Coverage onBuy
Jul 2015Cowen & CompanyDowngradesOutperformMarket Perform
Jul 2015SocGenUpgradesHoldBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

Get Benzinga's Newsletters