Source: www.benzinga.com --- Wednesday, April 27, 2016
Apple Inc. (NASDAQ: AAPL ) reported weak quarterly results and announced soft guidance. JPMorgan’s Rod Hall reiterated an Overweight rating for the company, while reducing the price target from $141 to $125. The analyst mentioned that Apple’s performance is likely to have been expected by a steeper-than-anticipated decline in demand in Hong Kong and RoAPAC. What The Numbers Say Apple witnessed declining revenue in both the US and Europe. The company guided to FQ3 revenue of $41bn - $43bn, with the midpoint missing JPMorgan’s estimate by 20 percent. ... Full story available on Benzinga.com ...
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