Apple's holiday quarter may face pressure from inflation, weak China demand
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Evercore ISI Removes Apple (AAPL) From tactical Outperform List Following Strong Earnings
October 28, 2022 10:12 AM EDTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $190.00 price target on Apple (NASDAQ: AAPL).
The analyst comments "We are removing Apple from our tactical outperform list as our key catalyst was the Sept-qtr earnings that were reported last night. AAPL reported Sept-qtr results of $90.15B/$1.29 (vs. street at $88.7B/ $1.27) with topline growth of 8% despite nearly ~600bps of f/x headwind. Notably, iPhone growth was robust at 10% (though ~100bps below street... More
