Yesterday, Apple (AAPL) delivered a fantastic Q3 earnings report, but its startlingly conservative guidance poleaxed the stock. AAPL is well-known for guiding conservatively, however, so Wall St. analysts are tripping over themselves today trying to be the first to say, “BUY ON WEAKNESS!”.
Bank of America reiterates BUY, target cut from $190 to $180.
- BofA was disappointed by the margin guidance, but believes management is likely being “conservative” in their outlook.
Oppenheimer reiterates OUTPERFORM.
- Buyers on weakness and encouraged that Macs continue to increase market share. Expects Apple to sell 4.9 million iPhones in its Q4.
Citi reiterates BUY.
- Q2 results “stellar” and believes not only the conservative guidance brought down the stock, but also Apple’s non-comment on Steve Jobs’ health. Any pullback a buying opportunity.
Lehman reiterates OVERWEIGHT, target cut from $234 to $220.
- AAPL’s product expansion story is on track, weakness a buying opportunity.
Soleil reiterates BUY.
- Overly conservative guidance, buying opportunity.
AmTech reiterates BUY.
- AAPL is still poised for several years of secular growth, so any pullback is a buying opportunity for investors.
Goldman reiterates BUY, target cut from $220 to $200.
- Guidance will prove conservative.
ThinkPanmure reiterates BUY, target cut from $225 to $200.
- Lowering expectations is good long-term.
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