“Apparently forecasting iPhone sales is harder than it looks,” Julie Verhage reports for Bloomberg. “Analysts on Wall Street can’t seem to agree on whether demand will be strong, weak, or flat. A lot goes into predicting sales for Apple Inc.’s most popular product. From the health of the consumer to the average time it takes a current user to upgrade, analysts covering the stock have much to consider when making their estimates. And yes, that includes Brexit.”
Verhage reports, “Wall Street as a whole can agree on one thing, though: Some 42 of the 51 analysts covering the stock have buy ratings on it.”
“Citigroup, Drexel, and Cowen have targets of $115, $185, and $125, respectively, and the overall average is $123.13,” Verhage reports. “As Apple is currently trading at $96, the average would represent a 28 percent return over the next 12-months.”
Read more in the full article here.
MacDailyNews Take: We’ll see how much iPhone SE helped on the unit sales front when Apple reports fiscal Q316 results after market close on July 26th.