Market Overview

UBS Reiterates Buy Rating, $700 PT on Apple

Share:
Related AAPL
A Sign Of Things To Come? Amazon And Netflix Win Oscar Gold
Apple Continues To Blow Other Companies Away
The Best Way to Beat the S&P 5…… (GuruFocus)

In a report published Monday, UBS Securities reiterated its Buy rating and $700.00 price target on Apple (NASDAQ: AAPL).

UBS Securities noted, “The Wall Street Journal led with the story that Apple cut its iPhone 5 component orders due to weaker demand. The article says Apple notified suppliers of the cut last month, which is when we and most of the Street reported it. Consequently, it appears this is old news—our analysts indicate no changes since. In December, we reduced our iPhone 5 estimates by 5mn a quarter due to the 30% production cut being reported out of Asia. At that time, our analysts estimated that Mar quarter iPhone 5 production would be 25-30mn and 4/4S 3-5mn. How much of the reduction was a result of inventory rebalancing vs lower demand was unclear, but the cut was greater than seasonal so we took the conservative route.”

Apple closed on Friday at $520.30.

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2017BarclaysDowngradesOverweightEqual-Weight
Jan 2017OTR GlobalDowngradesNegative
Jan 2017GuggenheimInitiates Coverage OnBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: UBS SecuritiesAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!