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How Did Industry Analysts React to the Announcement of New Apple Products?

By John Butters, Senior Earnings Analyst
Jun 12, 2015

Apple unveiled several new products and services at the company’s WWDC this past Monday, including Apple Music, iOS9, and new Apple Watch software. Given these announcements, did analysts revise their outlook for Apple over the past week? Were there any significant changes to EPS estimates, ratings, or target prices for the company over this period?  

The answer is no.

In terms of EPS expectations, analysts did not make any significant changes to EPS estimates for either fiscal year 2015 or fiscal year 2016 over the past week. The mean EPS estimate for FY 2015 decreased by 0.03% during this time frame (to $8.99 today from $9.00 on June 5). The mean EPS estimate for FY 2016 ($9.63) did not change over this period.

In terms of ratings, analysts did not change their opinions over the past week. The overall number of Buy ratings (36), Hold ratings (12), and Sell ratings (2) did not change during this period.

In terms of target prices, analysts did not change their opinions over the past week. The mean target price for Apple remained at $147.28 during this period. This mean target price is 14.5% above the June 11 closing price of $128.59.

The price of the stock fell by 0.7% on the day of the announcements (to $127.80 on June 8 from $128.65 on June 5). Since then, however, the price of the stock has increased by 0.6% (to $128.59 yesterday from $127.80 on June 8). The closing price of the stock yesterday ($128.59) was just below the closing price from the previous Friday ($128.65).

Read more about earnings trends in this edition of FactSet Earnings Insight. Visit www.factset.com/earningsinsight to launch the latest report.

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