“Bernstein Research’s Toni Sacconaghi opines that there is ‘more downside risk than upside’ to both Q2′s and Q3′s reports, especially the latter,” Tiernan Ray reports for Barron’s.
“Sacconaghi, who has an Outperform rating on the shares, and a $575 price target, writes today that Apple may deliver $43.4 billion in revenue in the quarter, which is below the average $43.7 billion, but he sees upside in EPS to $10.44 versus the consensus $10.19,” Ray reports. “Given the prospects for [fiscal] Q3 [also] being on the low side, ‘it is hard to get excited about buying Apple,’ he writes.”
Ray reports, “Sacconaghi suggests one can buy any ‘pullback’ in the shares after the report, to get ahead of a likely ‘iPhone 6’ upgrade come the fall.”
Read more in the full article here.
It remains to be seen how well the 5C does now that it has been shipping to a lot more countries. We’ll see those results in Q3.
Unexciting? Is that your professional opinion? Long term investors’ vocabulary is devoid of those kinds of adjectives.
iPhone 5C sales are selling at sleep walking pace, like Tim Cook. Hahahaha
Hey Bobby Fister!
Geez, 43 billion dollars in revenue is hard to get excited about for Tony.
All that money doesn’t imply growth or new markets and to tell the truth, his advice is the standard advice for Apple up until the run to 700, and since the pull back to 5xx. I.e. Buy on rumor, sell on news.