Barclays Remains Bullish On Apple Following Q1 Print, Raises Q2 Guidance

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Ben Reitzes of Barclays on Thursday commented in a note that Apple Inc.'s AAPL quarterly results, guidance and cash flow were “very positive” and that the company can continue its momentum moving forward.

“We are impressed by the gross margin performance into 2015, given a volatile currency environment,” Reitzes wrote. “Looking forward we see the Apple Watch as a potential catalyst into the 2015 year-end holidays with prospects for increased cash returns a more immediate catalyst in April.”

Looking forward to the second quarter, Reitzes raises his earnings per share estimates to $2.04 from $1.97, while hiking his revenue guidance to $54 billion from a prior $53 billion. For the full year fiscal 2015 the analyst now sees Apple earning $8.56 per share, up from prior estimates of $7.76, while revenue is expected to be $225 billion as opposed to prior estimates of $215 billion.

Shares are Overweight rated with a $150 price target.

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Posted In: Analyst ColorAnalyst RatingsApple WatchBarclaysBen ReitzesiPhone
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