Scalper1 News
Apple (AAPL) iPhone unit sales are likely to decline for the first time ever in fiscal 2016, but investors shouldn’t get too hung up about it, Pacific Crest Securities analyst Andy Hargreaves says. Apple stock could remain under near-term pressure because of the potential for iPhone unit sales declines in fiscal 2016, which starts Sept. 27, Hargreaves said in a research report Sunday. But customer loyalty to the iOS platform “should ensure a fairly quick return to growth and sustained (free cash flow) production for several years,” he said. Hargreaves estimates a 12-month fair value price for Apple stock as 139. Apple shares were up 1%, near 117, in afternoon trading in the Scalper1 News
Scalper1 News