“Topeka Capital Markets analyst Brian White said he believes that Apple has a three-pronged approach towards a sustainable share price recovery: returning cash to shareholders; a profit cycle trough and move higher; and new areas of growth. White rates Apple ‘buy’ with a $888 price target,” Ciaccia reports. “”
Ciaccia reports, “Apple guided third-quarter revenue between $33.5 billion and $35.5 billion, with gross margins between 36% and 37%. That was well below what analysts were thinking, but recent data shows that Apple’s earnings trough might be coming to an end.”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Fred Mertz" for the heads up.]