Market Overview

Cowen Raises Apple Price Target

Share:
Related AAPL
Citi Expects Apple's Stock To Ripen In 2018
Mid-Afternoon Market Update: Finisar Surges Following $390M Contract From Apple; Nordic American Tanker Shares Slide
Caterpillar, Nike Lead Dow; Fed Raises Rates; 10-Year Treasury Yield Falls (Investor's Business Daily)

In a note released Tuesday morning, Cowen analyst Timothy Arcuri raised his price target for Apple (NASDAQ: AAPL) from $90 to $102 and maintained an Outperform rating.

Arcuri is remaining constructive moving towards the September iPhone 6/wearables launch and is "very bullish on units" following recent supply chain checks.

Looking at the global smartphone market, Arcuri listed five factors he views as favorable for Apple:

  1. Apple has maintained its market share despite not serving the ~30 to 40 percent of consumers who favor larger screens.
  2. Arcuri estimates approximately 140 million unit installed base of pre-iPhone 5 and sees LTE-A and larger screens as presenting a "compelling upgrade case."
  3. The company's market share gains in China appear correlated with LTE roll-outs.
  4. iPhone operator early upgrades programs continue to gain traction in key markets.
  5. The competitive landscape for high-end smartphones remain primarily duopolistic.

     

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: Cowen and Company Timothy ArcuriAnalyst Color News Price Target Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Partner Center