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Analysts React To Two Tech Giants: Apple Inc. (AAPL), Tesla Motors Inc (TSLA)


Analysts came out with a few insights on the technology giant Apple Inc. (NASDAQ:AAPL) and electric car giant Tesla Motors Inc. (NASDAQ:TSLA), after the companies shed some light on their sales progress.

Apple Inc.

Apple has been in the news for its latest iPhone 6S and 6S Plus. The company sold 13 million units over the launch weekend; a 30% increase over the 10 million iPhone 6 and 6 Plus units sold a year ago. While these numbers are strong, this year’s figures also include sales from China, which were not included in the prior year. Subsequently, analyst Jim Suva of Citi weighed in with bullish sentiments.

Yesterday, Suva maintained a Buy rating for the stock with a price target of $145. However, Suva lowered his EPS estimate for the September quarter to $9.06 from the earlier estimate of $9.14 after he shifted some iPhone sales to the next quarter. For the September quarter, Suva estimates iPhone sales of 47 million, lower than the consensus estimate of 48 million because sales of only two days – Friday and Saturday – of the weekend launch will be counted in the current quarter.

Suva expects various other sell-side analysts to do the same and lower their estimates for iPhone sales in the September quarter. Apple is scheduled to report its earnings on October 27.

Suva also expects the volatility in Apple’s...