Apple Inc (NASDAQ:AAPL) | Facebook Inc (NASDAQ:FB)
During Tuesday’s Afternoon trade, Shares of Apple Inc (NASDAQ:AAPL), gained 0.05% to $107.38.
In recent weeks, Wall Street analysts have cut their iPhone sales targets for the March quarter on signs of slowing production in Asia. Now those concerns are bleeding into the June quarter, according to (Investor’s Business Daily)
Cowen analyst Timothy Arcuri on Tuesday cut his price target on Apple (NASDAQ:AAPL) stock to 130 from 135 on a weaker outlook for the iPhone maker. He rates the stock as market perform. Apple stock was flat, near 107, in afternoon trading on the stock market recently.
Arcuri said investor expectations for iPhone sales in the March quarter might finally have gotten too bearish, but sales targets for the June quarter still look too high even factoring in the rumored launch of a new 4-inch handset, the iPhone 6C. China Mobile (NYSE:CHL) has revealed plans to start selling a phone dubbed the iPhone 7C in April, AppleInsider stated Tuesday. The iPhone 7C is another name for the rumored 4-inch iPhone 6C.
The launch of the iPhone 6C should provide Apple some cover for the June quarter, but it also is likely to cannibalize some sales of lower-priced iPhone 6 models, Arcuri said. (Investor’s Business Daily) Report
On the other news report, Another Apple Inc. analyst is downgrading its view on shares of the tech giant Tuesday, according to WSJ
Apple’s stock is off 0.3%, trading near a four-month low, after Cowen & Co. analyst Timothy Arcuri cut his 12-month price target on Apple shares to $130 from $135, 21% above where the stock recently traded at $107.03.
“The stock is now closing in on $100, a more compelling price in our eyes, on fears around supply chain data [points],” wrote Mr. Arcuri in a note to clients.
Mr. Arcuri said that the bias to Apple’s earnings estimates remains to the downside through at least the middle of next year as growth expectations are “normalized.” While he thinks near-term investor expectations may “finally be too bearish,” he said he’s holding back on a more positive outlook because estimates still “look too high” for the company’s quarter ending in June. In Apple’s latest quarter, iPhones made up the bulk of sales, accounting for 63% of revenues.
Mr. Arcuri has a “market perform” rating on shares, meaning he’s neutral on the stock. He changed his recommendation to market perform from “outperform” in the summer after looking at Apple’s supply chain, which suggested to him the narrative was changing toward slower iPhone sales. WSJ Report
On the other hand, Shares of Facebook Inc (NASDAQ:FB), inclined 0.31% to $105.09, during its current trading session.
Recently, it looks like Apple (AAPL) and Facebook (FB) are joining forces: the social media company will now support the tech giant’s “Live Photos” tool that debuted with the iPhone 6s, according to AppZacks
Facebook is following in the footsteps of popular blogging site Tumblr, who integrated the photos just a few days ago. It will become available to users through a software update, which hit this morning, and you can now upload and view Live Photos from within Facebook’s iOS app.
The uploading process differs very little from regular, or standard, pictures. There is only one extra step: while choosing a picture to upload from your phone’s camera role with Live Photo capability, a “LIVE” option appear in the bottom right of your screen; if you tap that, the picture will upload as a Live Photo. And if you don’t, the standard version of the picture will be published.
As of right now, only iPhone 6s and 6s Plus can capture Live Photos, but with Facebook, any device operating on iOS 9—counting iPhones as old as the 4s—will be able to view the interactive pictures. AppZacks Report