“Apple Inc.’s product event on Monday will likely have a ‘minimal impact’ on either earnings estimates or Apple’s stock, said Pacific Crest analyst Andy Hargreaves in a note to clients Friday,” Jennifer Booton reports for MarketWatch.
“The company is expected to unveil a 4-inch iPhone, new iPad and additional watch bands Monday at its Cupertino headquarters,” Booton reports. “However, Hargreaves said he doesn’t expect the new hardware or software to ‘materially alter’ Pacific Crest’s outlook for earnings or his view of the stock.”
“On Friday, Pacific Crest reiterated an overweight rating and $127 price target on Apple stock,” Booton reports. “The stock has an average rating that is the equivalent to buy and a median price target of $132.91, according to a poll of roughly 45 analysts on FactSet.”
Read more in the full article here.
MacDailyNews Take: We’ll wait to see exactly what’s announced, thanks.