Oppenheimer, Credit Suisse see Apple Q115 beat, Apple Watch momentum

“Apple (AAPL) shares are up following a couple of positive notes this morning,” Tiernan Ray reports for Barron’s. “Oppenheimer & Co.’s Andrew Uerkwitz reiterates an Outperform rating on the stock, and a $130 price target, writing that as far as the March quarter report ‘consensus estimates have underestimated robust iPhone 6 sales and their impact to EPS.'”

“Uerkwitz’s estimates for the fiscal Q1 being reported on Tuesday, January 27th, are $69.5 billion in revenue and $2.61 per share in net income. That is above the average $67.1 billion and $2.59 Street consensus,” Ray reports. “Uerkwitz sees little competition for the forthcoming Apple Watch: ‘Our trip to CES 2015 confirmed our view that Apple Watch is unlikely to have competition from other wearable and smartwatch makers. We believe its combination of creative user interface and hardware design will pose multiple-year leadership over competition, in similar ways to the iPhone. Spring Launches: We expect AAPL to release Apple Watch and an updated iPad of differentiated display size by March. We believe the enhanced product portfolio will effectively leverage Apple’s overwhelming ecosystem advantage and help the company to address a wider consumer and enterprise audience.'”

Ray reports, “Also today, Credit Suisse‘s Kulbinder Garcha reiterates the same Outperform rating and $130 target, writing that he expects Apple to turn in as much as $72.8 billion in revenue in the December quarter, and $2.97 per share.”

Read more in the full article here.

MacDailyNews Take: This is going to be the earnings report to end all earnings reports. Until Q116, with Apple Watch sales for Christmas, that is.

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