Here’s What Analysts Had to Say about QUALCOMM, Inc. (QCOM), Apple Inc. (AAPL) & Other Stocks This Week

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Count Robert Drbul, a tech analyst at Guggenheim, as the latest Amazon.com, Inc. (NASDAQ:AMZN) bull. Drbul recently initiated coverage on the stock with a ‘Buy’ rating and a price target of $950. Drbul is optimistic on AWS, Amazon’s cloud infrastructure as a service, that has been growing rapidly lately and he believes Amazon will claim about a quarter of the U.S. e-commerce market by next year. There is more growth ahead as the e-commerce market is just a small fraction of the overall retail market in the United States and abroad. The smart money was for the most part bullish on Amazon in the second quarter (and rightly so). According to our data, 145 funds had a bullish position in Amazon.com, Inc. (NASDAQ:AMZN) at the end of the second quarter, up by 12 funds from the previous quarter.

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Despite its post iPhone-7 rally, Citi analyst Jim Suva thinks Apple Inc. (NASDAQ:AAPL) has more upside ahead. Citing store checks across the world, Suva believes iPhone 7 demand is strong and could help Apple achieve iPhone sales of 79.4 million units for the December quarter, versus the Street’s current estimate of just 75 million units. Due to his research, Suva raised his target price to $130 per share from the previous $120 and reiterated his ‘Buy’ rating on the tech giant. Although David Einhorn’s Greenlight Capital trimmed its stake by 17% in the second quarter, the fund still held 6.8 million shares in Apple Inc. (NASDAQ:AAPL) on June 30.

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Although Wells Fargo & Co (NYSE:WFC) is hogging the regulatory spotlight at the moment, Mylan NV (NASDAQ:MYL) shares still haven’t recovered yet, as they neared a 52 week low on Friday. Not surprisingly, Leering analyst Jason Gerberry became the latest analyst to trim estimates for the drug company, lowering his EpiPen sales estimate by 33% to 45% for the period of 2017-2021 and cutting his price target on the stock to $45 from $55 per share. However, Gerberry does retain an ‘Outperform’ rating on the stock. A total of 44 funds from our database owned shares of Mylan NV (NASDAQ:MYL) at the end of June, down by seven funds from the previous quarter.

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Disclosure: none

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