“Jefferies is adjusting some of its estimates on Apple sales for the upcoming quarter,” StreetInsider reports. “The firm maintains Apple at Hold, lowering its price target from $420 to $405.”
“Analyst Peter Misek is trimming fiscal Q313 iPhone shipment expectations from 30 million down to 27 million units and fiscal Q413 units from 50 million down to 45 million,” StreetInsider reports. “Assembly on the new iPhone hasn’t started yet, Misek said, but its most likely to begin very soon. He comments, ‘”Trial production and tape-outs are most likely occurring now. We believe the iPhone 5S and low-cost iPhone will most likely launch in Sep and that pushouts are more likely than pull-ins. We still expect an iPad Mini retina in CQ4.'”
StreetInsider reports. “Upgrading to iOS 7 on the iPhone 4 and iPhone 4S will be possible, Misek notes a poor experience due to the operating system putting too much stress on the processor. He thinks iOS 7 might be an attempt by Apple to spur upgrades.”
Read more in the full article here.
BMO ups Apple price target to $450 on new pay structure for top execs – June 24, 2013