Munster Says Apple Could Announce Increased Dividend, Buyback With Q2 Results
Piper Jaffray analyst Gene Munster sees very limited downside in shares of Apple (NASDAQ: AAPL) going forward.
Expectations for the iPhone 6 are low, meaning a worst-case scenario for investors would be announcements do not move the stock in either direction, according to Munster.
Management is also in a favorable position to defend the stock using a modest dividend increase, or repurchases with March quarter earnings, said the Piper analyst.
Munster is expecting iWatch announcements in the second half of 2014.
The analyst reiterated an Overweight rating and $640 price target.
Shares of Apple are up 0.13 percent to $543.30 in Wednesday's pre-market trading.
Latest Ratings for AAPL
|Oct 2016||Goldman Sachs||Maintains||Buy|
|Oct 2016||Credit Suisse||Maintains||Outperform|
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