Analyst Gene Munster reiterated a Buy rating on Apple (NASDAQ: AAPL) today and set a price target of $172.
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In the past 52 weeks, shares of Cupertino, California-based company have traded between a low of $92.00 and a high of $134.54 with the 50-day MA and 200-day MA located at $106.77 and $107.31 levels, respectively. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell. There are consensus estimates for the fiscal third quarter that are calling for $1.76 in EPS on $47.32 billion in revenue. The Company has 5.54B shares outstanding while EPS in next five years is expected to reach 10.80% while EPS growth in past 5 year was 33.60%. The posted earnings missed the analyst’s consensus of $2 per share with the surprise factor of -5 percent. The stock has dropped to a 2-month low. In the matter of earnings surprises, the term Cockroach Effect is often implied.
A few moments ago via the company’s press-room, Krzanich declared more details regarding his plans to transform Intel from a PC company to a company “that powers the cloud and billions of smart, connected computing devices”. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come. (AAPL) on Tuesday reported fiscal second-quarter net income of $10.52 billion. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. At the same time, global sales accounted for 67% of this quarter’s revenue.
This represented Apple’s first quarterly revenue decline in 13 years, with CEO Tim Cook calling the quarter “very busy and challenging”.
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The results exceeded Wall Street expectations.
