Market Overview

Gene Munster Advises Apple Investors to Hold Through Downward Revisions of June Quarter

Share:

In an interview with CNBC on Thursday, Gene Munster, managing director & senior research analyst at Piper Jaffray, offered details on why he has an Overweight rating on shares of Apple (NASDAQ: AAPL).

Munster believes there are not any positive catalysts to justify the Street's estimates of 10 percent growth for the June quarter. As a result, those June estimates will likely be revised down.

However, the Piper analyst advises Apple shareholders to hold through the downward revisions because, “at the end of the day it is not about the June quarter, it is about all these products coming in the back half [of 2014].”

Munster admits that holding through the downward revisions seems like a “backwards” approach. Munster believes investors are waiting on the sidelines for the June estimates to come down. When estimates are lowered to “de-risk” the June quarter, investors are going to “take a much bigger weight in the back half of the year,” Munster said.

Shares of Apple are down 0.3 percent to $529.75 in Thursday's trading.

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2021Cowen & Co.MaintainsOutperform
Jan 2021Morgan StanleyMaintainsOverweight
Jan 2021BarclaysMaintainsEqual-Weight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Posted-In: CNBC Gene MunsterAnalyst Color Analyst Ratings Tech Media Trading Ideas

Latest Ratings

StockFirmActionPT
TSLAJP MorganMaintains125.0
INTCTruist SecuritiesMaintains64.0
FBTruist SecuritiesMaintains320.0
GSCitigroupMaintains370.0
AAPLCowen & Co.Maintains153.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com