Apple: Jefferies still buying, same TP

(CercleFinance.com) - Jefferies has confirmed its Buy rating on Apple shares, with an unchanged target price of $195 (pmt: $174, -2%).


The analyst points out that the Apple brand had a solid quarter, with EPS up 13% to $1.46, with record sales recorded in both iPhones and Services.

"At first glance, some fears in China seem overblown as September was a record for the quarter in several countries including Mainland China", the broker points out.

Nevertheless, Jefferies believes that the December guidance, as well as the laptop and tablet sectors, are disappointing. It also wonders whether this is a question of timing, difficult competition or a deeper problem relating to demand.


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