Apple Inc was downgraded at Raymond James after the release of Apple Watch to the market on Friday. This measurement is taken due to the concern of the possibility whereby Apple Watch may not be able to meet inventor’s high standards. Analyst Tavis McCourt lowered his market rating since it was outperform started from Jan 28,2014.
Apple Watch can be paired with Apple iPhone 5 onwards. There are 3 different types of Apple Watch to choose from, such as Apple Watch, Apple Watch Sport as well as Apple Watch Edition. According to the survey that McCourt has done in December the number of iPhone users who intend to also buy Apple Watch increase up to about 10% whereas in March, the same survey was conducted and the figure fell to 5% .
On the fiscal second-quarter earnings-per-share, he increased his estimation from $2.02 to $2.15. This estimation comes about as there is still high demand of iPhone in China and stronger share buyback activity. As the pace over the years has increased, it becomes more difficult to maintain. Therefore, it is expected that the stock to be remain within the current range without any significant difference in the near future due to the competition from other technology giant’s peers and the broader market.
Apple is expected to report the company’s quarterly result on April 27 after the market closes. The earnings per share are expected to rise from $1.66 a year ago to $2.13 whereas the revenue is expected to rise from $45.6 billion to $55.4 billion.
Apple Inc Downgraded at Raymond James After Apple Watch Became Available to Purchase on Friday
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