Apple Reports Second Quarter Results

Apple (AAPL) Grinds Off Lows

Apple (NASDAQ: AAPL) is grinding higher off pre-open lows. Shares last traded down 6.76% after opening down 8%. The 2.3% dividend yield could be helping establish a floor.

Negatives Outweighed Positives for Apple (AAPL) in FQ2, Says Deutsche Bank

Deutsche Bank maintained a Hold Apple (NASDAQ: AAPL) with a price target of $105. Comments follow the release of FQ2 results. Analyst Sherri Scribner said concerns about slowing growth and elongating iPhone refresh cycles were reinforced by declines in units. Overall, negatives largely outweigh positives, said the analyst.

"AAPL reported slightly softer results and weak guidance as macroeconomic and FX headwinds weighed on iPhone demand. Mgmt... More

Apple (AAPL) PT Lowered to $112 at Macquarie

Macquarie analyst Ben Schachter lowered his price target on Apple (NASDAQ: AAPL) to $112.00 (from $117.00) but maintained a Outperform rating.

Schachter commented, "While the quarter wasnt as bad as some feared, June quarter guidance will spook the market. The issue remains... More

Apple (AAPL) PT Lowered to $117 at BMO Capital

BMO Capital analyst Tim Long lowered estimates and his price target on Apple (NASDAQ: AAPL) to $117.00 (from $130.00) following disappointing Q2 results and outlook but maintained an Outperform rating.

Logn commented, "The feared big unit miss that did not happen in December or March... More

Stifel Likes Apple (AAPL) Set-Up Into Late 2016/2017

Stifel analyst Aaron Rakers reiterated a Buy rating and $120 price target on Apple (NASDAQ: AAPL) despite weak Q2 results and outlook.

Rakers commented, "Following Apples weak F2Q16 results and F3Q16 outlook (channel inventory burn considered), we are reducing our... More

Buy Apple (AAPL) on Weakness - Needham & Company

Needham & Company analyst Laura Martin maintained a Strong Buy rating and $150 price target on Apple (NASDAQ: AAPL) following disappointing Q2 results and outlook. Martin said positive are Valuation, FCF & Capital Returns.

Martin commented, "We expect AAPL to trade down today because it missed FY2Q16 consensus income... More

Goldman Sachs Removes Apple (AAPL) from Conviction Buy List

Goldman Sachs downgraded Apple (NASDAQ: AAPL) from Conviction Buy to Buy with a price target of $136.00 (from $155.00).

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $104.35 yesterday.

Piper Jaffray's Munster Lowers Apple (AAPL) PT to $153; Maintains Bullish View on Easy Comps, iPhone 7 Cycle

Piper Jaffray analyst Gene Munster lowered his price target on Apple (NASDAQ: AAPL) to $153.00 (from $172.00) following disappointing Q2 results and outlook but maintained an Overweight rating citing upcoming easy comps and the upcoming cycle change.

Munster commented, "While there were few bright spots in Apple's... More

Oppenheimer Downgrades Apple (AAPL) to Perform

Oppenheimer downgraded Apple (NASDAQ: AAPL) from Outperform to Perform.

Analyst Andrew Uerkwitz commented, "We are downgrading Apple to Perform as we believe that weaker performance seen in this quarter is likely to recur until 2017s iPhone launch. We believe Apple won't provide a... More

Apple (AAPL) PT Lowered to $120 at RBC Capial Post Q2

RBC Capital analyst Amit Daryanani lowered its price target on Apple (NASDAQ: AAPL) to $120.00 (from $130.00) following weak disappointing results and outlook but maintained an Outperform rating.

Daryanani commented, "The June-qtr guide was exceptionally disappointing but we think valuation provides support in mid 90s near-term but for AAPL to sustain multiple expansion... More

Credit Suisse Maintains Bullish View on Apple (AAPL) Post Q2

Credit Suisse analyst K. Garcha lowered estimates on Apple (NASDAQ: AAPL) following results and outlook but maintained an Outperform rating and price target of $150.

Garcha said the setback creates an opportunity.

For an analyst ratings summary and ratings history on... More

Apple (AAPL) Raises Buyback to $175B, Raises Dividend 9.6% to $0.57

In addition to earnings, Apple (NASDAQ: AAPL) increased its share repurchase authorization to $175 billion from the $140 billion level announced last year. The Company also expects to continue to net-share-settle vesting restricted stock units.

The company also declared a quarterly dividend of $0.57 per share,... More

Apple (AAPL) Misses Q2 EPS by 10c

Apple (NASDAQ: AAPL) reported Q2 EPS of $1.90, $0.10 worse than the analyst estimate of $2.00. Revenue for the quarter came in at $50.6 billion versus the consensus estimate of $51.97 billion.

The company sold 51.193 million iPhone units, versus the consensus of 50 million. The compares to 74.78 million units sold in Q1 2016 and 61.17 million units sold in Q2 of 2015.

The company sold 10.251 million iPad... More