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Jefferies Reiterates Hold Rating, $450 PT on Apple Following iPhone 5S/5C Announcement

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In a report published Wednesday, Jefferies analyst Peter Misek reiterated a Hold rating and $450.00 price target on Apple (NASDAQ: AAPL).

In the report, Jefferies noted, “The iPhone 5C's $99 on-contract price is higher than expected and still leaves Apple with a product gap in the low-end. While the iPhone 5S fingerprint scanner provides some differentiation, we think its low yields could be a headwind to margins and initial unit volumes. We expect choppy trading for AAPL after the launch date.”

Apple closed on Tuesday at $494.64.

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Aug 2018CitigroupMaintainsBuyBuy
Aug 2018Canaccord GenuityMaintainsBuyBuy
Aug 2018BMO CapitalMaintainsMarket PerformMarket Perform

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