Apple: expect outperformance with new iPhone, UBS says.
(CercleFinance.com) - UBS expects the Apple stock to outperform over the next 6-12 months after the launch of the new iPhone later today.
The Swiss broker still warns that near-term downside risk is somewhat greater this time, given pricing and uncertainties as potential short-term negatives.
As a reminder, Apple is expected to reveal a new iPhone whose price could reach 1,000 dollars.
Based on the last five iPhone announcements, the stock has fluctuated by 1-2% on the day new models have been presented; up between the event and launch; weak in the two weeks post-launch; and then rising in the run-up to earnings, UBS says.
The broker maintains its "buy" rating on the stock with a target price of 180 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.