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Apple's Q3 Report: The Current Sell-Side Sentiment

Apple's Q3 Report: The Current Sell-Side Sentiment - Apple Inc. NASDAQ:AAPL

Apple Inc. AAPL 1.34% is scheduled to announce its Q3 results after Tuesday's market close. Let's take a quick look into what notable firms think about the stock.

  • On Monday, BGC's Colin Gillis downgraded Apple's stock from Hold to Sell, trimming his price target from $110 to $85, arguing “It has become clear, that the muse that drove Apple, has gone somewhere else.
  • Last week, Bernstein's Toni Sacconaghi reiterated an Outperform rating and $125 price target on the stock, assuring that it stands as "an attractive revaluation candidate [which reflects] overly pessimistic mid-single-digit declines in FCF in perpetuity."

Related Link: June Smartphone Survey Shows Apple's iPhone 7 Might Perform Like iPhone 6

  • Nomura also reiterated a Buy rating and $120 target price on shares, mentioning "very healthy growth in iOS downloads and revenue trends."
  • Baird's William Power repeated an Outperform rating and $115 price target on Apple, even though he believes estimates for Q4 and full fiscal year 2017 are too high.
  • Earlier this month, Barclays' Mark Moskowitz issued an Overweight rating on the stock, while cutting his price target from $121 to $115, pointing out some potential near-term pressure derived from weak smartphone demand.

Related Link: Using Apple Suppliers' Results, Wells Fargo Sees iPhone Sales Increasing

  • Goldman Sachs' Simona Jankowski maintained a Buy on the stock. She sees the stock surging to $124 over the months to come, helped by better-than-expected iPhone SE demand.
  • Finally, it should be noted that the crowd isn't as bullish as most analysts. The Vetr community currently rates Apple as a 3.5 Star stock (Buy), but has set an average price target of $102.37, which implies a potential return of roughly 4.35 percent from current valuations.

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DateFirmActionFromTo
Jul 2016BarclaysMaintainsOverweight
Jul 2016Longbow ResearchInitiates Coverage onBuy
Jun 2016Goldman SachsMaintainsBuy

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