Dec 17 - At least 8 Apple analysts issue notes on the tech powerhouse. We break down the reports so you don't have to.
▲ Hide Transcript
▶ View Transcript
Voting integrity our show on tech stocks John Marino editor of Thomson Reuters C -- next it's all about apple as at least eight analysts weigh in on the tech powerhouse in the last 24 hours there's no big earnings release a dramatic apology from the company to spur them in action. Only data sales for the debut of the iPhone 5 in China. The video we had a they lack of a crowd of people waiting outside of a story Shanghai doesn't need the full picture to say the least apple sold at least two million of the devices in the first three days and that is the best ever Smartphone launch in China still Citigroup is not impressed. Cut the stock to neutral. From buy and lowered its price target shares of apple are funny bit of a roller coaster ride so far today. Falling early then moving higher as the day wears on city reduced its price target by a hundred dollars to 575. Per share from 67 but. Four others also cut their targets including. Pacific crest which is novel most of the budget 560 dot. That's nearly 200 dollars beneath the mean price target of fifty plus analysts tracked by Thomson -- stock much. Citigroup is echoing comments made by Jefferies last week about supply chain cuts for iphones. It admitted that there inconclusive in nature but brings into question the strength of the product itself. Other brokerages are concerned about these smaller iPhone 5 screen size hurting demand. Also the I've -- me is cannibalizing sales of the large drive had an increase in Smartphone competition is coming apple from Samsung. Research out today from comScore shows that Samsung is gaining ground at least in the UK it's Smartphone market share there during August September and October of this year more than doubling. From the same three months a year earlier. Apple's in the lead but for how long. Besides city the other analysts who cut their price targets in an apple did point out that companies -- and valuation basis pays a 2% dividend and still has a lot of growth at a that they said. These points also made by three analyst who came out -- the company's strong performance in China and allay the fears of investors Wells Fargo. Calling it's not apple. The mine apocalypse is not upon us. Sticking with its 730 dollar upside target. While RBC is staying at 715 Piper Jaffray remains at 900 dollars per share target for apple Wells Fargo also pointing out that chain that has not. Always been reliable as apple is expanding its sources. Either way shares are up about 25% this year that's twice that of the S&P 500 and significantly higher than NASDAQ overall. That's to protect would be this Monday remember you can follow us on Twitter RT RS equity I'm John Marino and this is work.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code