Piper Expects Apple Inc.(NASDAQ:AAPL) to Miss Consensus


Piper Jaffray expects Apple Inc.(NASDAQ:AAPL)  to report March quarter results towards the high end of the company’s guidance range on Wednesday. Piper, however, believes Apple will guide the high end of June quarter revenue to 5% year-over-year growth versus consensus expectations for 8% growth.

The firm says it remains positive on shares with an Overweight rating and $640 price target.

AAPL has a 50 day moving average of $530 and a 200 day moving average of $530 as well.  The company has a p/e ratio of 12.9 and a p/e growth ratio of .64.  Apple’s current market cap stands at $468.2B and the current quarter EPS consensus estimate of the stock is $42.64.

Analysts have a consensus price target of $594 on Apple Inc.(NASDAQ:AAPL) which indicates a 14% upside. The consensus rating of the stock is a BUY with a score of 2.70. There are currently 9 Hold ratings, 2 Sell ratings and 30 Buy ratings on the stock.

Apple will report earnings on Wednesday and will hold a conference call that same day to discuss the results.


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