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Apple a ‘High-Quality Flight to Safety,’ Cowen Says -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Cowen analyst Krish Sankar reiterated a outperform rating for Apple Inc. (NASDAQ:), and a $180 target price on Apple Inc. on Monday. Investors were informed in a note by Sankar that their research points to possible net iPhone unit upside.

We model iPhone shipments between 82M and 57M in Dec/Mar Q (F2Q). Sankar explained that AAPL is a “flight-to safety” name we recommend to have during volatility market conditions because of its resilient demand for iPhones and Macs.

Apple shares have fallen 2% to $159, with the price of Apple stock at around that level. But they reached lows of$154.70 early in the session.

The analyst added that “Our industry fieldwork (see Smartphone Monthly here), suggests that Dec Q builds exceeded our forecast of 82M, vs our figure of 88M units.”

“We think every 3M unit generates $0.05 of the 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. Dutch regulators ordered Apple to pay EUR 5,000,000 in Dutch to cover its failure to fulfill requirements regarding payment systems for dating app providers. 

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