The following is an excerpt from Tiernan Ray | July 25, 2016 | Barrons.com |
Apple (AAPL) shares are down 65 cents, or 0.7%, at $98.02, heading toward tomorrow afternoon’s Fiscal Q3 report, after the closing bell, what one analyst has referred to as the company’s “lame duck quarter,” in advance of a presumed “iPhone 7” introduction in September.
The Street is modeling $42.18 billion in revenue in tomorrow’s report, for the three months ending in June, and $1.40 in EPS. that’s presuming Apple makes sales of 40 million iPhones, 9 million iPads, and 1 million iPods.
As I noted earlier, one of the most bullish analysts, Drexel Hamilton’s Brian White, wrote that this quarter will see a 19% decline in iPhone units, the biggest ever, and that it will be a trough, from which things will start to improve.
Also in today’s reports, Maxim Group’s Nehal Chokshi reiterates a Buy rating, and raises his price target to $168 from $157, with one of the most bullish points of view, arguing that survey data suggest growth in the iPhone 7 and “7s” cycles:
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