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Technology Stocks : Apple Inc.
AAPL 259.95-0.4%Jan 14 3:59 PM EST
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To: pyslent who wrote (171858)7/21/2014 11:21:59 AM
From: Moonray1 Recommendation

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HerbVic

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Apple: Not Too Late to Add to Price Targets, Say UBS, JMP

With Apple’s (AAPL) fiscal Q3 report due tomorrow afternoon, after the closing bell, there’s still plenty of
time to raise ratings on price targets on the stock, as people have been doing for weeks now.

First JMP Securities’s Alex Gauna this morning raised his rating on the shares to Outperform from Market
Perform, with a $135 price target, arguing Apple is poised to beat sales and gross margin expectations in
both the near- and the intermediate-term.

Also this morning, UBS’s Steven Milunovich this morning reiterates a Buy rating and raises his price target
to $115 from $100, writing that his survey of Apple buyers suggests the company’s mix of products was
better for this quarter than expected:
...but the revenue mix this year will swing so heavily in favor of the iPhone that the blended GM% will still be improved.

Milunovich also believes Apple can have a higher-than-expected gross profit margin in fiscal
2015 of perhaps 38.1% versus what he’d previously modeled as 36.6%. In part that’s because of
the company’s moving past the impact of revenue deferral for the decision last year to make some iOS
software applications, such as iWork, free with Apple devices:

More at: blogs.barrons.com

o~~~ O
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