- "With [gross margins] stabilizing and core demand trends solid, we think investors will want to own Apple (AAPL +3%) stock into bigger-screen iPhone 6 and ecosystem-expanding iWatch/iBand launches," writes Evercore, staying bullish on Apple following its mixed FQ3 results and light FQ4 guidance.
- Macquarie: "The bottom line is that the iPhone 6 reception is what matters right now." Its target has been raised by $7 to $102. At least 6 other firms have also hiked their PTs today.
- Citi, which recently launched coverage at Buy, expects 140M iPhone 6 sales over the first 12 months (compares with an iPhone installed base of 300M), and thinks the adoption of installment/early upgrade plans could provide further upside.
- It's also pleased with Apple's 28% Greater China growth, given fears of tougher competition from local vendors - fast-growing Xiaomi just rolled out a metal-framed flagship phone that goes for $320 unsubsidized.
- 9to5 Mac reports today Apple is "tentatively" planning to unveil the iPhone 6 in mid-September. Sources state the 4.7" model is set to be shown off, but add a final decision hasn't been made on revealing the 5.5" model at the event. KGI reported last week the 5.5" model could be delayed due to production issues.
- The site also reports Apple is planning an October event that will likely involve an iWatch/fitness band. Apple is fresh off receiving a patent for a modular smartwatch design that includes a strap with built-in sensors and other circuitry.
- Prior Apple earnings coverage
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