Apple (AAPL) Shares Outperform Suppliers Into Launches - BofA/Merrill Lynch

BofA/Merrill Lynch analyst Wamsi Mohan highlights in a note to clients Friday that Apple (NASDAQ: AAPL) shares have historically outperformed a group of 95 significant suppliers heading into iPhone launches, especially major non-S launches like the current cycle.

"... we see that Apple shares typically perform well heading into a major iPhone launch. After the launch shares may pull back, and then have performed well again into the next cycle," Mohan commented.

The firm maintained a Buy rating and price target of $180 into the launch.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $153.18 yesterday.

You May Also Be Interested In

• BofA Securities Upgrades HawkEye 360 Inc (HAWK) to Buy, 'Attractive valuation flying below the radar'
• SpaceX Discusses Buying Data For Ai Models From Failed Startups - Bloomberg
• Avenue Supermarts (DMART:IN) PT Lowered to INR3,520 at HSBC