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Deutsche Bank calls Street iPhone expectations "more than Apple can chew"

Published 09/28/2017, 12:08 PM
© Reuters.  Deutsche Bank calls Street iPhone expectations "more than Apple can chew"
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  • Deutsche Bank (DE:DBKGn) thinks the Street is overestimating potential FY19 sales for Apple’s (NASDAQ:AAPL) iPhone.
  • Analyst Sherri Scribner writes, “Expectations are pricing in more than Apple can chew.”
  • Scribner thinks FY19 estimates need to come down to “realistically reflect” a period after a strong cycle and says that Apple would need to ship 45M additional iPhones this year, for a total of 290M, to beat estimates as much as the last sale cycle.
  • Scribner finds those numbers unlikely and instead forecasts a decline in iPhone sales.
  • Deutsche Bank reiterates its Hold rating for Apple and $140 price target, which is lower than current the current price.
  • Apple shares are down 0.79%
  • Previously: WSJ details 3D sensor delays for iPhone X (Sept. 27)
  • Previously: FCC chair wants Apple to activate iPhone FM chips after disaster (Sept. 28)
  • Now read: Time To Buy Apple? Maybe Not


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