“Much has been made about Apple’s share price decline over the past few months, as the stock fell from $700 in September 2012 to below $400 just a few weeks ago,” Chris Ciaccia reports for The Street. “Is the stock, and the company itself, on its way to recovery? It is, if you believe one Wall Street pundit.”
“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.]