Apple: Jefferies still a buyer ahead of results
(CercleFinance.com) - On Monday an analyst at Jefferies confirms his "buy" rating on the Apple share, mentioning positive signs, with the US tech giant set to publish its quarterly results on Wednesday.
"We see that Apple stores had a 37% sequential increase in aggregate traffic on iPhone 11 launch day vs. a 32% increase for the iPhone XS launch last year. Consensus expects a 10% Y/Y decline in F4Q19 iPhone units and while we maintain our conservative estimates, we see a meaningful positive bias," the broker appreciates.
Jefferies hence confirms its target price of 285 dollars for the share.
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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 see that Apple stores had a 37% sequential increase in aggregate traffic on iPhone 11 launch day vs. a 32% increase for the iPhone XS launch last year. Consensus expects a 10% Y/Y decline in F4Q19 iPhone units and while we maintain our conservative estimates, we see a meaningful positive bias," the broker appreciates.
Jefferies hence confirms its target price of 285 dollars for the share.
Copyright (c) 2019 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.