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Apple: Credit Suisse expects a 'solid' quarter

(CercleFinance.com) - Credit Suisse on Monday maintained its "neutral" rating on Apple shares, with a target price of 150 dollars, ahead of the tech giant's quarterly results, which are due out tomorrow evening.


The broker said it expects a "solid" quarter from Apple, expecting revenues of 73.6 billion dollars (+23%) for EPS of 1.03 dollar, slightly above the consensus (73.3 billion dollars and 1.01 dollar respectively).

In a research note, however, Credit Suisse believes that the quarterly publication should not be a real "catalyst" for the stock.

Having increased by almost 20% since the beginning of June, investors are likely to focus on the launch of the next iPhone in the autumn, it said.

Credit Suisse said it expects the new phone to hit the market in mid-to-late September.

The share is up about 0.5% at around 149.5 dollars an hour into trading on Monday.


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