- BMO"s Keith Bachman boosts his price target to $600 from $508. He notes gross margin guidance for the December quarter could be viewed as disappointing, but the accounting change (deferred revenue on nearly $1B in hardware sales) could have up to a 100 basis point impact on margins.
- Lazard's Edward Parker ups his price target to $610 from $570 . His continues to center his positive outlook on Apple as more of a storage company than electronic company, and says this is the reason margins are sustainable even as competitors close the gap on devices.
- Excluding the effect of the accounting change, Apple delivered a "beat-and-raise" quarter, says Susquehanna's Chris Caso, reiterating his Buy and $625 price target.
- Baird upgrades to Buy from Hold ... focus turns to 2014, multiple catalysts ahead.
- JPMorgan to clients: "The stock should start to break out."
- AAPL +0.3% premarket.
"Beat-and-raise" quarter for Apple impresses sell side
Oct 29 2013, 07:21 ET