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Apple's Q2 Sell-Side Roundup: Cook, iPhone And More

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Apple's Q2 Sell-Side Roundup: Cook, iPhone And More
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Apple Inc. (NASDAQ: AAPL) reported second-quarter earnings Tuesday.

The world’s biggest company now has over $250 billion in cash as investor speculation continues on what the company should do with all that money.

Gerber Kawasaki: 'Put The Heat On Tim Cook'

"It's time to put the heat on Tim Cook," said Gerber Kawasaki Wealth and Investment Management CEO Ross Gerber. "It should be illegal to have $250 billion dollars in cash and not utilize it – that is what you're supposed to do as CEO," he added.

Wells Fargo And Deutsche Bank: Looking Toward iPhone X

While iPhone sales were slightly down in the quarter, Wells Fargo is giving Apple a pass with softer unit sales likely indicating the anticipation for the 10-year anniversary iPhone.

“Time will tell whether this is the case or if there is a fundamental change in upgrade cycles, which won’t be clear until Q4. However, while we see iPhone risk beyond this calendar year, we think the bigger potential issue is Apple’s legal battles and specifically with Nokia, where we think there is the possibility for initial news flow as early as year-end,” said Wells Fargo.

Wells Fargo has a Market Perform rating on Apple with a $135-$145 valuation range target.

Deutsche Bank noted that while second-quarter results don’t point to strength, the bull case likely triumphs any near-term concerns, and remains focused on the latest iPhone release. The German bank maintains a Hold rating and a $130 price target on the company.

Barclays At Equal Weight: Seeing A Sideways Near Term

Barclays analyst Mark Moskowitz is predicting that Apple will trade sideways in the near term. Moskowitz believes results and outlook lack upside on Apple, especially since Apple noted there has been a pause on smartphone demand. A familiar Apple competitor may also be gaining traction.

“We are concerned gross margin could be at risk to the downside if Apple starts to lose market share momentum with Samsung back in the market with its S8,” said Moskowitz.

Barclays maintains an Equal-Weight rating on Apple and kept its $123 price target.

Baird: Be Buyers On Weakness

Analysts at Baird were much more bullish, saying that they would be buyers on any weakness. Baird maintains an Outperform rating but raised its target price to $160 from $145.

Related Links:

Apple Delivers Mixed Quarter Amid Seasonal Lull; All Eyes Beyond June

Gene Munster Talks Apple Growth:'It's Still All About The iPhone 10'

Latest Ratings for AAPL

DateFirmActionFromTo
Jul 2017Morgan StanleyMaintainsOverweight
Jun 2017MizuhoDowngradesBuyNeutral
Jun 2017Pacific CrestDowngradesOverweightSector Weight

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