Stifel analyst Aaron Rakers raises expected iPhone shipments for Q4 to 47M from 42.2M (consensus – 44.6M) and revenue, EPS to $47.7B, $1.69 up from $45.6B, $1.57 (consensus – $46.9B, $1.66). For Q1 2017, models iPhone units at 76.6M, up from 69.9M prior, and revenue and EPS at $74.3B, $3.17, up from $70.05B, $3.01 (consensus – $74.4B, $3.19). Raises price target from $120 to $130 (current price $117.85) and maintains a Buy rating.
Deutsche Bank analyst Sherri Scribner, rating Apple (AAPL +0.4%) at Hold, nonetheless raises her price target from $105 to $108 and iPhone unit forecasts to 46M for the September-ended quarter and 75M for Q1 2017.
Previously (October 14): CLSA models iPhone 7 average selling price above estimates
Now read: Apple: How About Some New Products? »