“R. W. Baird’s William Power today reiterates an Outperform rating on shares of Apple (AAPL), and raises his price target to $102 from $95, in advance of the company’s fiscal Q3 report on July 22nd, after market close,” Tiernan Ray reports for Barron’s.
“Power is modeling Apple to report $37.7 billion in revenue and $1.20 per share in net income, which is a bit below the $37.88 billion and $1.22 average estimate on the Street,” Ray reports. “For the Q4 outlook, he sees $39 billion in revenue and $1.27 per share, which is below the $47.75 billion and $1.34 the Street is modeling.”
Ray reports, “Despite those below-consensus numbers, he sees bright spots in his own “checks” of Apple’s business: ‘Our ongoing weekly Apple channel checks suggests relatively solid demand in the U.S. despite the recent launch of several competing flagship devices. Additionally, the iPhone appears to have stable demand in many key overseas markets […] China indicators positive. Smartphone search activity in China continues to point to strong iPhone interest in current models. Additionally, Chinese search results indicate increased interest in the upcoming iPhone launch when compared to the same period last year.'”
Read more in the full article here.
AAPL up today. Just a little. Not like GOOG,AMZN,DIS,NFLX or PCLN though.
Wow, that’s sure stepping out on a limb.
Still waiting for hard evidence of the existence of anything resembling a “strong pipeline” of new products. We don’t want new adapters either!
tic tic tic
And that is the beauty of the 7 for 1 split. You don’t see that is an ALL time high value. If it was $714, many would say, that will never happen. But, go past $100 and push up to $110 or $115, sure, any stock can do that. They chose 7 for 1 for a reason! I still believe $102 is low and will be passed this year.
Have a great July 4th!