(News Bulletin 247) – Well Fargo maintains its Overweight recommendation on Apple stock and reiterates its price target at $185.
“We believe Q2 23 results should be viewed as neutral/slightly positive,” the analyst points out.
However, forward estimates are down, ‘leading us to believe stocks will trade sideways or lower in the near term,’ the broker said.
“We now model Q3 23 revenue and operating income at $80.993 billion / $1.18 (compared to $84.407 / $1.34 for the prior market),” Wells Fargo continues.
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