Jefferies Reiterates Hold Rating, $450 PT on Apple Following iPhone 5S/5C Announcement
In a report published Wednesday, Jefferies analyst Peter Misek reiterated a Hold rating and $450.00 price target on Apple (NASDAQ: AAPL).
In the report, Jefferies noted, “The iPhone 5C's $99 on-contract price is higher than expected and still leaves Apple with a product gap in the low-end. While the iPhone 5S fingerprint scanner provides some differentiation, we think its low yields could be a headwind to margins and initial unit volumes. We expect choppy trading for AAPL after the launch date.”
Apple closed on Tuesday at $494.64.
Latest Ratings for AAPL
|Oct 2016||Credit Suisse||Maintains||Outperform|
|Oct 2016||Goldman Sachs||Maintains||Buy|
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