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Apple's Shine Dazzles Analysts


Apple Inc. (NASDAQ: AAPL) dazzled at least some stock analysts Tuesday with its fiscal fourth-quarter results coming in above expectations.

Although the company's shares are up nearly 30 percent year-to-date, "investors don't appreciate the positive impact" of its latest iPhone models, Citibank's James Suva said in a note maintaining a Buy rating and $120 target.

IPhone sales grew 15 percent in the recent quarter to 39 million units.

The phones accounted for about 70 percent of Apple's recent profits, while sales of its iPad tablets fell 12 percent to 12.3 million units and sales Mac computers grew 19 percent to 5.5 million units.

Related Link: Apple's Q4 Results Solidify Its Success Through 2016

Although iPhone growth may be of interest, Cantor Fitzgerald's Brian J. White said he's "more tuned-in to Apple's 'super cycle,'" citing an upcoming launch of the Apple Watch, combined with its recent launch of iPhone 6 Plus and Apple Pay.

White raised his target 16 percent to $143 and maintained a Buy rating.

Similarly, Barclays' Ben A. Reitzes raised his 2015 earnings estimate nearly 5 percent and said iPhone sales will boost earnings growth "over the next few quarters."

After that, Reitzes sees focus shifting to the Apple Watch and to services related to the company's newly launched Apple Pay.

Reitzes rates the company Over-Weight with a $120 target.

But Credit Suisse's Kulbinder Garcha sees Apple hitting "peak product cycle" earnings in 2015.

Garcha thinks the current rate at which consumers replace their iPhones is unsustainable, while he also sees upcoming risks to Apple's iPhone profit margins from potentially higher component costs. He maintained a Neutral rating and $110 target.

Apple traded recently at $102.22 per share, up 2.47 percent.

Latest Ratings for AAPL

Apr 2021BarclaysMaintainsEqual-Weight
Apr 2021Monness, Crespi, HardtMaintainsBuy
Apr 2021Credit SuisseMaintainsNeutral

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