Apple: UBS raises price target to 190 dollars.
(CercleFinance.com) - UBS raised its target price for the Apple stock from 180 dollars to 190 dollars on , maintaining its "buy" rating on the shares, saying the company is getting its "Mojo" back with iPhone 10.
The Swiss broker thinks Apple is successfully navigating the transition, as evidenced by better-than-expected third quarter revenue of 52.6 billion dollars, against a consensus of 50.8 billion dollars.
UBS also highlights growth in Greater China (including services), which is set to become increasingly important for the company in the future.
However, demand remains strong and not just for the iPhone, UBS says, which believes that the group's iPad has turned the corner with two periods of growth, while the performance of Macs came as a pleasant surprise, with the number of Apple Watchs sold jumping by over 50%.
Finally, there could be upside in the group's operating margin, as expenses should rise less quickly than revenue for the first time in three years, UBS says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Swiss broker thinks Apple is successfully navigating the transition, as evidenced by better-than-expected third quarter revenue of 52.6 billion dollars, against a consensus of 50.8 billion dollars.
UBS also highlights growth in Greater China (including services), which is set to become increasingly important for the company in the future.
However, demand remains strong and not just for the iPhone, UBS says, which believes that the group's iPad has turned the corner with two periods of growth, while the performance of Macs came as a pleasant surprise, with the number of Apple Watchs sold jumping by over 50%.
Finally, there could be upside in the group's operating margin, as expenses should rise less quickly than revenue for the first time in three years, UBS says.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.