WHAT'S NEW: After Canaccord conducted surveys, analyst T. Michael Walkley wrote that there is growing anticipation among customers for Apple's new iPhones, which are expected to feature larger screens. Additionally, fewer customers than usual upgraded to Apple's current iPhone models last year, so many customers are likely to upgrade to the iPhone 6, leaving the device poised to set sales records, Walkley contended. Moreover, Apple is likely to charge more for its larger screen phones, enabling the company's margins to remain stable and causing its total gross margins to rise in dollar terms, the analyst predicted. He kept a Buy rating on the shares.
WHAT'S NOTABLE: Apple has ordered 68M iPhone 6 devices, Mac Rumors reported yesterday. That's double the amount of phones that the tech giant ordered prior to launching the iPhone 5 in 2012, the website added. Also, analyst Ming-Chi Kuo issued a new report that says Apple's "iWatch" will enter mass production in November, which is later than his previous estimate for September, according to 9to5Mac. Kuo reportedly also lowered his forecast for iWatch shipments in this year by 40% to 3M units, due to the push back that was due to hardware and software engineering challenges for the device.
PRICE ACTION: In early trading, Apple rose 0.8% to $95.83.Reporting by Larry Ramer.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV