These days, even bullish analyst reports on Apple have a negative angle. S&P Capital IQ on Tuesday reiterated its strong buy rating on Apple (AAPL) stock, but it slashed its price target to 130 from 150. S&P analyst Angelo Zino cited recent supply chain softness for the iPhone. Zino also cut his EPS forecasts for the year based on slowing iPhone sales expectations. Apple stock fell a fraction Tuesday, to 96.66. William Blair analyst Anil Doradla
Skyworks Solutions (SWKS) will shuck Apple’s (AAPL) iPhone weakness on Jan. 28 when the chipmaker reports its Q1 earnings, a Needham analyst said Tuesday as he upgraded the stock. Needham analyst N. Quinn Bolton upgraded Skyworks stock to a buy rating from hold and established a 73 price target. Ahead of the closing bell on the stock market today, Skyworks stock was down about 0.5% near the closing bell, around 60.50, while Apple stock was off
Big-cap techs about to report earnings are seeing mixed stock action, with the S&P 500 index up fractionally just ahead of the closing bell Tuesday but the Nasdaq composite index in the red. Of these, Netflix (NFLX) and SAP (SAP) were leading gains in afternoon trading, while Verizon (VZ) was also up, and IBM (IBM) seesawed, then dipped more than 1%. Apple (AAPL), which reports next Tuesday and is the biggest stock of all, was down fractionally