technology giant apple Inc. (AAPL) posted its third quarter fiscal 2015 earnings results on June 21, missing iPhone sales expectations. Despite this miss, however, Apple had a successful quarter with earnings per share of $1.85 on revenue of $49.6 billion, beating expectations of $1.81 per share on $49.43 billion in revenue. As such, Apple's report and the future of the technology giant has been all anyone can talk about. Here are the top 10 analysts who cover Apple and their insights on the company's future:
1. Gene Munster of Piper Jaffray most recently weighed in on Apple on July 21 after the company's third quarter fiscal 2015 earnings results were announced, maintaining an Overweight rating on the stock with a price target of $162. While iPhone sales came in lower than the Street expected, Munster believes “Jun-15 iPhone unit growth of 35% [year-over-year] vs 38% in Mar-15 is positive overall as it represents continued market share growth.” The average sale price for an iPhone was “$660 vs $659 in Mar-15, which is a positive surprise as usually ASPs decline through the life of the cycle.” As such, Munster is adamant that “the theme of share growth will continue into the [iPhone 6] S cycle and remain positive on shares of Apple.”
Gene Munster has rated Apple a total of 145 times since 2009, earning an 81% success rate recommending the company and a +30.5% average return per AAPL recommendation when measured over a one-year horizon and no benchmark.
2. Michael Walkley of Canaccord Genuity reiterated a Buy rating on Apple on July 22 with a $155 price target in light of the company's Q3 fiscal 2015 earnings results. The analyst believes “the current iPhone 6 and upcoming iPhone 6s should continue to post strong sales and high-end smartphone market share gains, as [he] believe[s] the iPhone 6/ 6 Plus smartphones are generating very strong replacement sales from existing iPhone consumers who slowed the pace of iPhone upgrade purchases during the relatively disappointing iPhone 5 and 5s product cycles.”