Apple Price Target: Jefferies’ Peter Misek on Apple

Apple Price Target: If you have yet to do so, check out this story from yesterday: Apple Inc. (AAPL) Supply Chain Chaos. In this piece, we touched on supply chain issues that continue to bother Apple Inc. (NASDAQ:AAPL). Along with this, there was plenty of information from analysts Brian White of Topeka Capital and William Power of Baird Capital.

Apple Inc (AAPL)Apple Inc. (NASDAQ:AAPL) is actually the smart money’s second favorite publicly traded company but hedge funds have started dumping Apple Inc. (NASDAQ:AAPL) in favor of a surprising financial stock (see which stock hedge funds are buying like crazy).

Today, we have some more information from another analyst. With the troubles Apple has been facing, it seems like not a day goes by without another analyst chiming in.

Jefferies’ Peter Misek wanted to get in on the action, as reported by CNN Money. According to the article, here are some of the major talking points from Misek:

“Cutting his fiscal Q2 iPhone estimate (to 35 million from 37.5 million).

Lowering his price target (to $420 from $500) and.

Laying 25% odds that the company will miss its own guidance this quarter.”

As you can see, Misek is not optimistic about what the near term future holds for Apple Inc. (NASDAQ:AAPL). In fact, when compared to information released yesterday by Brian White of Topeka Capital and William Power of Baird Capital it appears that Misek may be the most pessimistic of the three.

Just the same as White and Power, Misek is not liking what he hears in regarding supply chain issues. More specifically, he cited “issues with the new iPhone casing colors, leading to launches being delayed from June to July-September.”

At this point, it is hard to imagine what tomorrow will bring as far as Apple Inc. (NASDAQ:AAPL) is concerned. Analysts have had a lot to say as of late, unfortunately for the Cupertino-based company, none of it is good news.

Do you agree with Misek? Share your thoughts in the comment section below.

Check back here for more updates on Apple Price Target.

DISCLOSURE: I have no positions in any stock mentioned.

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