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jimmybob

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jimmybob

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Friday, 06/17/2016 7:30:52 AM

Friday, June 17, 2016 7:30:52 AM

Post# of 147182
Apple price target lowered to $115 from $120 at RBC Capital
RBC Capital lowered its iPhone estimates for Apple, starting in the company's September quarter. The firm says that it made the adjustments to reflect what it sees as longer replacement cycles, its increased conservatism about the iPhone 7, and an unfavorable mix shift towards SE. However, the firm expects the company's gross margins to rebound over the next several months, and it says that the stock's valuation is attractive. It keeps an Outperform rating on the shares

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