“As Apple readies its June quarter report, Wall Street analysts are doing last-minute tweaks to their estimates,” Patrick Seitz reports for Investor’s Business Daily. “On Tuesday, FBR Capital Markets analyst Daniel Ives raised his sales and earnings estimates for Apple for the quarter, full year and next year.”
Apple’s growth story in China is still underappreciated by the Street as the sustainability of iPhone growth in the region remains a debatable issue, especially due to recent macro developments. We anticipate that Apple capitalized on its ‘white-hot momentum’ in the country for fiscal Q3 and can penetrate further with its strong product ecosystem and upcoming iPhone 6S/7 product cycle (with potentially new features such as Force Touch, better camera, etc.) over the coming quarters/years, although we continue to keep a close eye on the region given macro and consumer worries. — Daniel Ives, FBR Capital Markets analyst
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