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Fly News Breaks for March 20, 2017
Mar 20, 2017 | 08:42 EDT
Cowen analyst Timothy Arcuri raised his price target on Apple to $155 from $135 as he believes Street estimates remain way too low. He sees an aging iPhone base, especially in China, that should lead to a powerful launch of the iPhone 8. In addition to Street estimates having to come up, Arcuri also sees the potential for additional multiple expansion. Arcuri reiterated his Outperform rating on Apple shares.
News For AAPL From the Last 2 Days
Mar 27, 2017 | 17:14 EDT
Facebook (FB) has hired Michael Hillman as hardware chief for its Oculus virtual reality business, Bloomberg reported. Hillman, a 15-year Apple (AAPL) veteran, previously held engineering and design jobs at the iPhone maker, the report said. A Facebook spokesperson told the publication that Hillman will work in close cooperation with Oculus COO Hans Hartmann. Reference Link
Mar 27, 2017 | 09:16 EDT
Apple (AAPL) and Facebook (FB) are gearing up to challenge start-up Magic Leap and Microsoft's (MSFT) HoloLens in the race to build augmented reality glasses that could eventually replace the smartphone as consumers' primary computing tool, according to the Financial Times. While Apple is stepping up its efforts in AR eyewear, Facebook is also researching the technology that can make what CEO Mark Zuckerberg calls "glasses small enough to take anywhere," the publication said. Reference Link
Mar 27, 2017 | 08:40 EDT
The back-and-forth patent lawsuits between Apple (AAPL) and Nokia (NOK) could get more interesting as Nokia is seeking access to documents from Samsung's (SSNLF) patent fights with Apple to help its own case, 9to5Mac reports. Reference Link
Mar 27, 2017 | 07:26 EDT
Susquehanna analyst Mehdi Hosseini said the firm's meetings last week in Taiwan and Korea suggest that Apple now appears to be planning to build and ship a total of about 100M iPhone 8 devices in the second half of the year, which is below prior expectations of 110M-115M. Contacts could not give a concrete reason for the change, though Hosseini speculates it has more to do with the increasing bill of materials, or content cost, of the device than anything else, he tells investors. The analyst added that he would not rule out Apple to narrowing build plans as a strategy to manage its procurement of components.
Mar 27, 2017 | 06:18 EDT
JPMorgan analyst Rod Hall raised his price target for Apple to $165 from $142 and added the shares to his firm's Analyst Focus List. The stock closed Friday down 28c to $140.64. Hall "materially" raised his estimates for Apple on what he believes is "high pent-up replacement demand" heading into the 10th anniversary iPhone launch this year. He raised his fiscal year 2018 iPhone unit forecast to 260M units from 245M. OLED supply should not be a limiting factor but will probably keep Apple from making two OLED models, Hall tells investors in a research note. He expects multiple iPhone "Pro" features including 3D facial scanning, a glass heavy design, and a structured-light-enabled camera. The analyst reiterates an Overweight rating on Apple shares.
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