“Thousands of people queued up to greet the iPhone 6 as it went on sale,” Tiernan Ray reports for Barron’s. “Analysts today are of course pre-occupied with what they see as a strong turnout, but they can’t agree on what it means for the opening weekend numbers for Apple.”
“Brian White of Cantor Fitzgerald, who has a Buy rating, and a $123 price target, describes the lines at the flagship Fifth Avenue store in New York with astonishment: ‘Our visits to Apple stores in NYC this morning highlighted lines that we would describe as unprecedented relative to our checks in recent years… We believe this iPhone launch is being met with unprecedented demand.’ He thinks Apple can sell 9.5 million to 10.5 million despite supply-chain constraints,” Ray reports. “Barclays’s Ben Reitzes, who has an Overweight on the stock, and a $116 price target, writes that ‘the launch of both phones was met with great enthusiasm across the United States and reports worldwide indicate that response to the launch has been stronger than expected.'”
Ray reports, “Maynard Um of Wells Fargo reiterates a Market Perform rating, and an $89 to $99 ‘valuation range.’ He was also in New York today, talking to buyers. He sees upside given people are buying the 6 Plus and buying both models in higher memory configurations.”
More from analysts in the full article here.
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