Deutsche Bank has raised Apple’s target price from $130 to $132 and maintained a “Hold” rating on the stock.
Despite the modest target price increase, Deutsche Bank analyst Sherri Scribner says Wall Street’s consensus estimate is too high for Apple and that “investors will be disappointed by iPhone growth in FY-18 and FY-19.” In other words, Scribner does not see an iPhone supercycle revving up for “iPhone 8.”
Scribner notes “fundamental challenges Apple faces in the smartphone market” including smartphone market saturation due to longer refresh cycles and also notes that Apple faces increasing competition in China.
MacDailyNews Take: Sherri and any of her clients that listen to her are in for quite a surprise!
We await Sherri’s upward revisions after Apple’s iPhone event with bated breath.
SEE ALSO:
Deutsche Bank: ‘iPhone 8’ sales will not eclipse iPhone 6 supercycle – July 11, 2017
Data suggests millions upon million of iPhone users ready to fuel iPhone ‘supercycle’ later this year – April 21, 2017
More evidence for a looming iPhone ‘supercycle’ – April 10, 2017
Citi ups Apple price target to $160 on impending iPhone supercycle – March 6, 2017
Analyst: Here comes Apple’s iPhone ‘supercycle’ – February 21, 2017
Apple seen riding iPhone 8 ‘supercycle’ next year – October 14, 2016
How can they have a target price of 132 and then say hold? I guess they think their believers should lose money.
Lol 😆
Aapl Pushing 150 yet this Analcyst is calling for 132.. and thats a raised target?
With new imacs.. imacpro (yum) , macbook refresh, Homepod, iPhone8 anniversary ediition super cycle, ios 11, AR kit, among the rest…..
“Deutsche Bank has raised Apple’s target price from $130 to $132 and maintained a “Hold” rating on the stock.”
This upgrade happened early (July 11) last week. If its news its old news.
Of all the major tech stocks, Apple is always given the least share gains by the analysts. That’s what happens when a company depends on basically one product, which is introduced once a year (so far). It’s that damn iPhone dependency and Apple critics are not giving it a rest. Apple shareholders can only look for share gains for one financial quarter as almost nothing positive happens for the rest of the year at Apple.
I don’t know when Apple is going to be able to get its hands on that overseas cash but it can’t come soon enough. It sure doesn’t seem likely this year as POTUS isn’t getting anything done in terms of tax reforms.