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Fly News Breaks for July 27, 2016
AAPL
Jul 27, 2016 | 05:51 EDT
Piper Jaffray analyst Gene Munster believes Apple's June quarter results last night and the guidance for the September quarter imply that its business is stabilizing and "trending in the right direction." Growth should return in the December quarter, Munster tells investors in post-earnings research note. He expects shares to outperform even if the iPhone 7 disappoints, as that would indicate demand is getting pushed into 2017. He lowered his price target for Apple shares to $151 from $153 and keeps an Overweight rating on the name.