Apple (AAPL) PT Maintained at $200 at Canaccord Genuity on 1Q18 Beat; 'Lowering iPhone Estimates, but Strong EPS Trends Should Continue'

Canaccord Genuity maintained its price target on Apple (NASDAQ: AAPL) at $200.00 while maintaining a Buy rating, following the company's first quarter earnings report.

Analyst T. Michael Walkley affirms his rating and price target on AAPL shares, as the company reported 2018 first quarter earnings per share and revenues above consensus projections, supported by strong service revenues, YoY (+11%) and QoQ (+83%) growth in China, iPhone 77.3 million unit sales in-line with estimates, despite management delivering disappointing Q2 iPhone sales guidance.

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