Source: http://ift.tt/1AzjXQr --- Monday, July 31, 2017
Almost Time to Get Past Apple FQ3 Earnings: All About the iPhone X With Apple Inc. (NASDAQ: AAPL ) fixing up to hand over its third fiscal quarter earnings tomorrow after market close, Drexel Hamilton analyst Brian White has his focus peeled to the iPhone X, ready to have the print behind the titan already. The analyst reiterates a Buy rating on shares of AAPL with a $202 price target, which represents a close to 35% increase from where the stock is currently trading. (To watch White’s track record, click here .) For the third fiscal quarter, the analyst is projecting the tech giant will meet his sales expectations of $45.29 billion, which would imply a 7% year-over-year rise, just ahead of the Street at $44.96 billion. Additionally, White believes Apple will fulfill his EPS expectations looking for $1.57, which align with the Street’s estimate. The analyst’s projection signifies a 14% quarterly dip, which he believes is “a bit better than the five-year average QoQ decline of 16% over past June quarters.” Additionally, White points to the giant’s third fiscal quarter guidance, which looks for sales between $43.5 and $45.5 billion as well as an implied EPS of roughly $1.53. Regarding iPhone units, the analyst sees a 1% yearly decline and 21% quarterly pullback to 39.95 million. In terms of Mac units, the analyst projects a 2% annual climb to 4.33 million units for the third fiscal quarter. When assessing the iPad, the analyst for ...
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