Market Overview

iProfit: Pacific Crest Reiterates Outperform Rating on Apple

Share:
Related AAPL
ICYMI: Digital Ad Spending On The Rise, Benzinga's Best From Last Week, And Barron's Best Bets For Next Year
Benzinga's Bulls & Bears This Past Week: Amazon, Apple, Lululemon And More
Wall Street Breakfast: Bitcoin Mania Lands On Wall Street (Seeking Alpha)

Pacific Crest analyst Andy Hargreaves reiterated an Outperform rating and $635.00 price target on Apple Inc. (NASDAQ: AAPL) on strong iPhone unit volume.

Hargreaves reported that supply and demand checks indicate that Apple's iPhone unit volume is likely to beat estimates, with the iPad unit volume expected to be in-line with estimates. The analyst commented on the strong replacement rates and noted that Apple is likely gaining share of high-end customers.

Pacific Crest remarked on older iPhone models, noting that Apple may continue to produce the older models but with a smaller price decrease. Hargreaves continued that this smaller price drop may generate a greater incremental gross profit per unit. The analyst added that the initial component order volume of the iPhone 6 creates an additional upside.

Shares of Apple closed at $539.19 on Monday, up 1.19% from Friday's close.

Latest Ratings for AAPL

DateFirmActionFromTo
Nov 2017Wells FargoReinstatesMarket PerformMarket Perform
Nov 2017ArgusMaintainsBuy
Nov 2017BernsteinMaintainsOutperform

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Andy Hargreaves Pacific CrestAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Partner Center