Sign up Australia
Proactive Investors - Run By Investors For Investors

Apple shares up as Morgan Stanley raises its price target despite the delay to the iPhone 8 launch

The bank's analysts said they expect the company to provide a "weaker-than-consensus" outlook for its fourth quarter ending in September, because of the slightly later iPhone launch
iPhone
But added that, in their view, that delay "creates a dynamic of much better-than-normal December and March quarter seasonality"

Apple Inc. (NASDAQ:AAPL) saw its shares gain in morning trade in New York, after Morgan Stanley raised its price target for the US tech giant despite delays to the launch of its next generation iPhone 8.

The Wall Street bank’s analysts hiked their target price for the maker of the iMac and the iPad to US$182 per share, up from US$177 previously, with the stock currently trading at US$150, up around 0.7% on the day.

READ: Apple hit by fresh iPhone 8 delay rumours after analysts point to development issues

In a note to clients, they said that when Apple reports results on August 1, they expect the company to provide a "weaker-than-consensus" outlook for its fourth quarter ending in September, because of the slightly later iPhone launch than typical, with an October shipment now predicted rather than the usual September date.

But the analysts said that, in their view, that delay "creates a dynamic of much better-than-normal December and March quarter seasonality, providing an attractive set up for the stock looking beyond the September guide."





Register here to be notified of future AAPL Company articles
View full AAPL profile View Profile

Apple Timeline

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use