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All The Recent Sell-Side Sentiment On Apple: All Eyes On iPhone 7

All The Recent Sell-Side Sentiment On Apple: All Eyes On iPhone 7

In what is generally considered the most highly anticipated release of the quarter, Apple Inc.(NASDAQ: AAPL) will report its first quarter after the close on Tuesday.

Apple’s first quarter is the first full quarter of iPhone 7 sales, and the world's biggest company’s release will give investors some insights into how the economy has performed over the past few months beyond the wild optimism seen in the market.

Leading up to Apple’s earnings report, iPhone unit sales have declined for three consecutive quarters, marking the first fiscal year revenue drop for Apple in over a decade.

All Eyes On iPhone 7

Barclays: Equal Weight, $117

Barclays recently downgraded Apple to Equal Weight from an Overweight rating, with analysts stating that they do not see “meaningful upside potential,” as investors are putting too much hope on the iPhone 8 to turn around sales for Apple. Barclays did indicate that this call was not on the quarter, however, and was a long-term outlook on the company. The British bank lowered its price target from $119 to $117 price target on Apple.

Credit Suisse: Outperform

Credit Suisse has reiterated an Outperform rating on Apple and believes investors should buy the company ahead of its iPhone 8 supercycle. “We see an opportunity for Apple to gain high-end market share and build upon the recent near-term momentum around the iPhone 7,” said Credit Suisse in December. “We believe a super cycle around the iPhone 8, and troubles in Samsung’s product lines should help drive unit growth.”

Drexel Hamilton: Buy, $185

Drexel Hamilton is bullish on Apple ahead of earnings, reiterating a Buy rating and its $185 price target on the company. “We continue to believe Apple is one of the most underappreciated stocks in the world,” said Drexel Hamilton analyst Brian White.

Goldman Sachs: Buy

Goldman Sachs maintains a Buy rating on Apple ahead of earnings. Late in 2016, the firm was working on convincing Apple to make a rival takeover bid for Time Warner Inc (NYSE: TWX); Apple has recently floated the idea of entered the media market and creating their own original content.

Morgan Stanley: Overweight

Morgan Stanley recently made Apple a top pick for 2017, citing the prospect of higher sales from the new iPhone this year and President Donald Trump’s economic agenda. The investment bank reiterated its Overweight rating.

Piper Jaffray: Overweight

Last month, analysts at Piper Jaffray assumed an Overweight rating on Apple. Notable Apple analyst for Piper Jaffray, Gene Munster, recently left his role of 21 years to start his own investment firm, Loup Ventures.

And Others

  • Guggenheim Partners initiated coverage on Apple in early January with a Buy’ rating and a $140 price target.
  • Macquarie Research has reiterated its Outperform rating on Apple with a bullish price target of $148.
  • OTR Global recently downgraded its rating to Negative on Apple on January 19.

At last check, shares of Apple were down 0.48 percent at $121.06.

Image Credit: By Maurizio Pesce from Milan, Italia (New Apple iPhone 7 and iPhone 7 Plus) [CC BY 2.0], via Wikimedia Commons

Latest Ratings for AAPL

Jan 2020MaintainsHold
Jan 2020MaintainsOutperform
Jan 2020MaintainsOutperform

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