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Wedbush bullish despite "Apple's darkest day"

Published 01/03/2019, 10:49 AM
© Reuters.  Wedbush bullish despite "Apple's darkest day"
AAPL
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  • Wedbush analyst Daniel Ives lowers his Apple (AAPL -9.8%) target from $275 to $200 and calls the Q1 warning "Apple's darkest day."
  • Ives: "Apple’s decisions over the coming months around pricing, future hardware redesigns, timing of 5G smartphones, and driving its core services business will have implications for years to come as Cupertino now faces the biggest fear among bulls which is an installed base (we estimate roughly 750 million active iPhones worldwide) that could stall out and not grow over the coming years and in a nightmare scenario decline."
  • The analyst maintains an Outperform rating and says he remains bullish on the Apple story despite yesterday's "black eye."
  • Source: Research note.
  • Now read: The Apple 'Disaster': 7% Earnings Growth And Billion In An Irish Bank


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