Loading...
Loading...
Nomura's Jeffrey Kvaal maintained a Buy rating on
Apple Inc.AAPL, with a price target of $135.
Following Nomura's Asia Tour, Kvaal said, "We found both the long-term and near-term implications for Apple to be positive overall."
Despite lower than expected iPhone 6s sales, the company's competitive positioning remains robust, the analyst mentioned.
Kvaal also pointed out, "Our thesis remains that Apple's rising subscriber base will ultimately restore volume growth."
Vendors believe that there is a lot of room for improvement in terms of features, such as wireless charging, thickness, screen resolution and foldability.
In addition, Kvaal expressed optimism regarding the long term potential of Apple Watch, as the company integrates additional functions, although this inflection point is unlikely during 1H16.
"Most component vendors consider February the slowest month for iPhone orders, in part given the Lunar New Year," the Nomura report stated, adding that excess channel inventory had "mostly or wholly" been burned off and that improving trends were likely in 2Q and beyond.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in