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Wells Fargo Reiterates Outperform Rating on Apple on Solid Pricing Strategy

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In a report published Thursday, Wells Fargo Securities analyst Maynard Um reiterated an Outperform rating on Apple (NASDAQ: AAPL).

In the report, Wells Fargo Securities noted, “There have been questions as to whether Apple's pricing strategy was flawed given media reports of 5c unit cuts at suppliers. The premise is that not pricing the 5c at the low end of the portfolio pricing range is the cause of softer end demand evidenced by U.S. retailers discounting 5c pricing and supplier cuts. We think the logic is flawed and examine each issue. While our thesis is predicated on gross margin, we believe there is opportunity for carrier expansion (280 vs. BlackBerry at 650 at its peak).”

Apple closed on Wednesday at $501.11.

Latest Ratings for AAPL

DateFirmActionFromTo
Jul 2016BTIG ResearchMaintainsBuy
Jul 2016UBSMaintainsBuy
Jul 2016Brean CapitalMaintainsBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

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