Apple: Canaccord Genuity reiterates 'buy' stance.
(CercleFinance.com) - Canaccord Genuity reiterates its "buy" rating on Apple, with a target price of 180 dollars after the firm's product announcements "met investor expectations" on Tuesday.
"We believe Apple continues to grow its leading market share of the premium-tier smartphone market," the Canadian brokerage firm wrote in a report issued this morning.
In the research report, Canaccord explains that it believes that the iPhone installed base could even exceed 635 million users by the end of 2017.
"This impressive installed base should drive strong iPhone replacement sales and earnings, as well as cash flow generation to fund strong
long-term capital returns," the broker adds.
On this basis, Canaccord Genuity says it anticipates a stronger upgrade cycle in 2018.
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.
"We believe Apple continues to grow its leading market share of the premium-tier smartphone market," the Canadian brokerage firm wrote in a report issued this morning.
In the research report, Canaccord explains that it believes that the iPhone installed base could even exceed 635 million users by the end of 2017.
"This impressive installed base should drive strong iPhone replacement sales and earnings, as well as cash flow generation to fund strong
long-term capital returns," the broker adds.
On this basis, Canaccord Genuity says it anticipates a stronger upgrade cycle in 2018.
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.