Market Overview

UPDATE: UBS Investment Research Initiates Buy on Apple, Says Empire Building Not Over

Share:
Related AAPL
Earnings: Google Parent Alphabet Gets Ready To Report Q1 Results
PayPal's Digital Payment Momentum Outweighs Risks
Nasdaq Leads Quiet Session; PayPal, Grubhub, Domino's Jump On Earnings (Investor's Business Daily)

UBS Investment Research initiated its coverage on Apple (NASDAQ: AAPL) with a Buy rating and a price target of $740.

UBS Investment Research noted, "Apple is creating a tech empire that likely has not reached its zenith. Our Wave Principle teaches that empires don't last. We recommend the stock, however, because the relatively low valuation seems to discount a too-pessimistic future given moderate smartphone and tablet penetration as well as potential new products. … Two bullish keys to financial results are (1) the iPhone, which is two-thirds of profit, and (2) Asia, which was 40% of profit growth last year. The next couple quarters have some risk due to the iPhone transition, but Apple's capex plans suggest upside to our unit estimates. Long-term EPS of over $70 looks achievable."

Apple closed at $608.21 on Tuesday.

Latest Ratings for AAPL

DateFirmActionFromTo
Apr 2017Morgan StanleyMaintainsOverweightOverweight
Apr 2017Credit SuisseMaintainsOutperformOutperform
Apr 2017Pacific CrestMaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: UBS Investment ResearchAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!