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Rosenblatt, BTIG disagree on Apple's Q1 potential

Published 01/26/2018, 09:33 AM
© Reuters. Rosenblatt, BTIG disagree on Apple's Q1 potential
AAPL
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  • Rosenblatt Securities thinks Apple (NASDAQ:AAPL) will beat analyst estimates in Q1 due to higher-than-expected iPhone X production in the period.
  • Analyst Jun Zhang calls risks in Q1 “overblown” even though Apple’s forecast could come in below analyst estimates as iPhone sales decelerate.
  • Zhang expects Apple to recognize a portion of iPhone X units produced in December and iPhone SE2 shipments that could begin in early March.
  • Firm rates Apple at Buy with a $180 price target, a 5% upside on yesterday’s close.
  • More action: BTIG analyst Walter Piecyck thinks Apple will guide March quarter revenues as low as $60B (consensus: $68B).
  • Piecyck writes that smartphone upgrade rates remain at record lows and don’t appear ready for a Q1 rebound since customers are simply holding onto their phones longer.
  • BTIG rates Apple at Buy with a $198 price target, a 15% upside on yesterday’s close.
  • Source: Bloomberg First Word
  • Apple will report earnings on February 1.
  • Apple shares are up 0.4% to $171.79.
  • Now read: Apple: Ignore The Negativity


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