“Note to Apple investors: Keep calm and carry on,” Patrick Seitz reports for Investor’s Business Daily.
“That was the theme of a research note Thursday by Drexel Hamilton analyst Brian White,” Seitz reports. “White, formerly with Cantor Fitzgerald, initiated coverage of Apple at his new firm with a buy rating and a 12-month price target of 200.”
The sharp correction in Apple’s stock this summer represents an attractive entry point as we believe fears surrounding China are overblown, concerns around difficult iPhone comparisons are short-sighted, and the appreciation for the implications of this transformational super cycle is surprisingly muted. — Drexel Hamilton analyst Brian White
Ray reports, “White called Apple ‘one of the most undervalued technology stocks in the world.'”
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“Even though economic concerns in China linger, analysts said, ‘We believe Apple is planning a bigger push into Tier 3-5 (80-90% of China’s households) across Mainland China over the next 12-24 months,'” U-Jin Lee reports for TheStreet. ”
“Additionally, the firm believes that the tech giant could open up its next iPhone market in India, which is similar in size and density as China, with a population of around 1.25 billion,” Lee reports. “Overall, Apple’s new product launch, Apple Watch, is also another positive for the company.”
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