Apple: Here's What Everyone On The Street Is Saying
The market seems unenthused with Apple Inc. (NASDAQ: AAPL)'s quarterly results, as the stock is down more than 6 percent, but what do analysts have to say about the print?
With sales guidance coming in below consensus expectations ($41-53 billion vs. $47 billion), gross margin outlook short (37.5–8 percent vs. expected 39.2 percent), average sales price for the iPhone missing the mark ($642 vs. $659) and EPS off target ($1.90 vs. estimated $2), the negatives paint a bleak picture.
However, in true mixed fashion, there were positives as well, including iPhone unit sales ahead of estimates (51.2 million vs. 50 million for the quarter), capital return and buyback updates, $11.6 billion OCF, $10 billion via buybacks and dividends to shareholders, $153 net cash and a revenue beat for iTunes software and services.
Below is a brief look at what the Street has been saying.
Voices From The Street
Oppenheimer: Buy The Post-Earnings Dip in Apple Suppliers
Oppenheimer: Apple Downgraded, Analysts "Questioning" Their Faith
Pacific Crest: Apple Guidance Isn't As Bad As It Looks
Piper Jaffray: Gene Munster Talks Apple's Future On Benzinga PreMarket Prep
Raymond James: Apple Will Stay Range-Bound Until Revenue Growth Stabilizes
Latest Ratings for AAPL
|Oct 2016||Goldman Sachs||Maintains||Buy|
|Oct 2016||Credit Suisse||Maintains||Outperform|
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