- Fears about a delay in the new iPhone have faded after upbeat management commentary, says RBC's Amit Daryanani, putting Apple (NASDAQ:AAPL) on track to be the first $1T company. Impressive guidance, says Daryanani, suggests the release could come at the end of September. He keeps the stock at Outperform and raises the price target to $176 from $168.
- JPMorgan (NYSE:JPM)'s Rod Hall says the better iPhone outlook is likely thanks to two new LCD model 7s he expects will be shipping in September. The stock, he says, is now rebounding to "pre-delay" levels. He too is at Overweight and lifts the price target to $176 from $165.
- Piper Jaffray's Michael Olsen is thinking along similar lines, and boost his PT to $190 from $158.
- The growth cycle has been fully priced in, says Mizuho's Abhey Lamba, sticking with a Neutral rating and $150 price target.
- Shares are up 6.6% premarket to $159.90.
- Analyst comments via Bloomberg
- Previously: Apple call: comments on China slump, Trump factory quote, no iPhone news (Aug. 1)
- Previously: Apple beats earnings estimates, Services up 22%; shares +5.9% (Aug. 1)
- Now read: Apple: End The Buyback
Original article