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Investing.com — Cowen analyst Krish Sankar reiterated an outperform rating and $180 price target on Apple Inc (NASDAQ:AAPL) on Monday, telling investors in a note that their research suggests possible net “iPhone unit upside.”
“We model Dec / Mar Q (F2Q) iPhone shipments of 82M / 57M. Given resilient iPhone and Mac demand, we see AAPL as a high-quality “flight to safety” name to own during market volatility,” explained Sankar.
Apple shares are down 2%, trading around the $159 level. However, they hit lows of$154.70 earlier in the session.
“Our latest industry field work (see Smartphone Monthly here) suggests Dec Q builds reached 88M units vs our 82M sell-in forecast,” added the analyst.
“We believe every 3M units drives ~$0.05 of EPS upside.”
In other Apple news, Bloomberg reported — before the start of the session — Apple is readying the broadest array of hardware products in its history for this fall. Meanwhile, the company has been ordered to pay EUR 5 million in the Netherlands by Dutch regulators after failing to meet requirements for payment systems for dating-app providers.
