Piper trims Apple target on supplier cuts

Dec. 13, 2018 9:25 AM ETApple Inc. (AAPL)AAPLBy: Brandy Betz, SA News Editor63 Comments
  • Piper Jaffray cuts its Apple (NASDAQ:AAPL) price target from $250 to $222 saying that recent supplier guidance cuts suggest "global unit uptake has not met expectations."
  • Analyst Michael Olson notes that the firm's domestic iPhone user survey hasn't shown unit weakness and the global weakness is largely priced in. Olson expects 2019E EPS will reach $13.45.
  • Piper expects 39% of iPhones sold this year to be the XS and XS Max while 30% will be the XR.

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