Nomura ups Apple price target from $120 to $135 on stronger-than-expected iPhone 7 sales

“Nomura Securities analyst Jeffrey Kvaal reiterated a Buy rating and boosted estimates and his price target on Apple to $135.00 (from $120.00) amid healthy early demand,” StreetInsider reports.

The steady positive news across geographies on the iPhone 7 launch implies demand is stronger than thought. We believe the supply chain is preparing for upward revisions to production forecasts. We are lifting our high-end iPhone estimates and our price target to $135. — Nomura Securities analyst Jeffrey Kvaal

“The firm now anticipate 78mn iPhones in F1Q, solidly above consensus of 75mn,” StreetInsider reports. They lift FY17 estimate from 230mn to 234mn (consensus 221mn).””

Full article here.

MacDailyNews Take: The price target parade is underway!

SEE ALSO:
UBS ups Apple price target from $115 to $127 – September 20, 2016

5 Comments

    1. I think it’s a very grudging stock price boost but they do it or risk losing even more credibility (that’s nearly completely already been shot up). They’re killing this Golden Goose by all the previous specious and disingenuous downplaying of Apple resulting in investors now nervous twitch unsure to invest in what today is capriciously annointed by the anal-cysts as a great time to buy.

  1. Upgrading Apple’s price target proves nothing. They’re analysts, not big investors. Apple doesn’t follow price targets unless they’re being lowered. Of all the major tech companies, Apple’s outlook is the poorest in terms of analyst projections. There’s really nothing driving Apple’s stock price at this point. Nearly everyone is in doubt over how much demand there is for the iPhone 7 and 7 Plus. Most just think demand will fizzle in a short while. Pessimism is Apple’s closest friend.

    What I find amusing is Apple is constantly opening new Apple stores while Wall Street insists Apple is a company on the wane. There seems to be some inconsistency why Apple is opening more stores when maybe they should be closing stores if Wall Street is right. I have my doubts about Apple stock going up very much no matter how much product the company sells. Doom and gloom never leaves Apple and I think that basically scares potential investors away.

    I still don’t quite understand why Apple’s institutional ownership percentage is so low compared to Amazon, Alphabet, Netflix, Facebook, Microsoft, etc. I’m guessing that must be an indicator of something being wrong with Apple stock.

  2. After almost 7 decades of watching America’s ups and downs, it has become clear that BECOMING #1 (in any field) is much, much easier than STAYING #1. We all love winners in this country . . . for a short while. Then we champion the underdog once again, whoever that may be. Apple/AAPL is a prime example.

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