Market Overview

UPDATE: Canaccord Genuity Reiterates Buy Rating, Lowers PT on Apple

Share:
Related AAPL
Due In Stores This October, Reports Surface That Final iPhone X Production Has Not Yet Begun
Why It's Too Soon To Judge Apple's Next Product Cycle
The Vetr community has upgraded $AAPL to 4.5-Stars. (Vetr)

In a report published Monday, Canaccord Genuity reiterated its Buy rating on Apple (NASDAQ: AAPL), but lowered its price target from $800.00 to $750.00.

Canaccord Genuity noted, ‘While our November channel checks indicated very strong sales of the iPhone 5, we are slightly lowering our F2013 and F2014 iPhone and iPad estimates due to softer sales expectations in international markets, primarily in Europe. While order reductions to iPhone suppliers are not unusual this time of year, we believe reduced iPhone 5 orders for the March quarter could also indicate an earlier launch of new iPhone products in the June quarter. Despite our slightly lowered estimates, we believe Apple's industry leading software ecosystem and integrated hardware experience will result in a strong multi-year product cycle. We reiterate our BUY rating, but slightly lower our price target from $800 to $750.”

Apple closed on Friday at $509.79.

Latest Ratings for AAPL

DateFirmActionFromTo
Sep 2017Morgan StanleyMaintainsOverweight
Sep 2017NomuraMaintainsBuy
Aug 2017NomuraMaintainsBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!
Loading...
Loading...