Analysts: Apple’s Build Plans May Be Cut Back and 3 Other Research Notes to Explore
Apple Inc. (NASDAQ:AAPL): Jefferies cut its price target for Apple shares by $25 to $450 after lowering its 2014 fiscal year earnings estimate for the company to $37.95 from $38.78, well below the consensus estimate of $42.66. Jefferies says its channel checks indicate that second-half iPhone build plans are being cut due to “terrible” fingerprint sensor yields. The firm adds that the iPhone 5c is being priced like Apple’s previous-generation handsets rather than a new, lower level. Jefferies believes Apple is taking the “higher price/lower market share option” for both its new iPhones and reiterates a Hold rating on the stock.