“Topeka Capital Markets’s Brian White today reiterates a Buy rating on Apple (AAPL) shares and a $1,111 price target, while warning that June sales data for a basket of Taiwanese suppliers to the company’s personal computers were ‘well below historical seasonal trends,'” Tiernan Ray reports for Barron’s.
“The ‘Apple Monitor,’ as White terms the basket of companies, showed a 13% month-over-moth decline in sales in June, far worse than the average 1% uptick in the month over the course of the last seven years,” Ray reports. “For the suppliers in that basket, about 50% to 60% of sales come from Apple products, White estimates.”
Ray reports, “White Avers the drop-off is probably a result of some pause in Apple product buying in advance of new products expected ‘in coming months.'”
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