Cleveland Research Concerned On Apple's N-T Outlook, Noting 'Slow Start' In Q2

Cleveland Research analyst Benjamin Bollin commented that

second quarter is "off to a slow start". Bollin reported that for near-term outlook, China Mobile may not be a "significant iPhone volume catalyst" due to the company's pricing and competition with China Unicom and China Telecom. The analyst added that discussion with company suggest that the next iPhone refresh will likely not occur until the fourth quarter versus the estimated third quarter. Cleveland Research noted that current FY14 EPS estimate remains below consensus. Shares of Apple closed at $544.43 on Thursday. Apple has traded as low as $541.22 on Friday.