Apple Inc (AAPL)

[vincen71]

“With Apple’s (AAPL) fiscal Q3 report due tomorrow afternoon, after the closing bell, there’s still plenty of time to raise ratings on price targets on the stock, as people have been doing for weeks now,” Tiernan Ray reports for Baron’s.
“First JMP Securities’s Alex Gauna this morning raised his rating on the shares to Outperform from Market Perform, with a $135 price target, arguing Apple is poised to beat sales and gross margin expectations in both the near- and the intermediate-term,” Ray reports. “Also this morning, UBS’s Steven Milunovich this morning reiterates a Buy rating and raises his price target to $115 from $100, writing that his survey of Apple buyers suggests the company’s mix of products was better for this quarter than expected.”
Ray reports, “Milunovich also believes Apple can have a higher-than-expected gross profit margin in fiscal 2015 of perhaps 38.1% versus what he’d previously modeled as 36.6%. In part that’s because of the company’s moving past the impact of revenue deferral for the decision last year to make some iOS software applications, such as iWork, free with Apple devices.”