Apple: Jefferies maintains TP at $200

(CercleFinance.com) - Jefferies reinstates its "buy" rating on the Apple stock, maintaining its target price at 200 dollars.


The broker highlights revenue of 97.3 billion dollars (+9% y-o-y), which was 4% higher than the consensus of 94.0 billion dollars.

Business was driven by iPhone sales, which totalled 50.6 billion dollars (+5% y-o-y).

The analyst also notes good results in China, where sales were again strong at 18.3 billion dollars (+3% y-o-y): Apple is now the leading smartphone vendor in China, which is not natural, with other OEMs in China (Vivo, Oppo, Xiaomi and Honor) having little experience and success in selling high-end phones that they are leaving a door open for Apple.


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