AAPL: Merrill Cuts Target to $780, Trims Margin Estimate
Merrill Lynch’s Scott Craig this morning reiterated a Buy rating on shares of Apple (AAPL) while cutting his price target to $780 from $840, after trimming estimates for this year and next based on his expectation for fewer iPhone units sold than he’d previously expected, “continued weak U.S. demand overall,” pressure on Apple’s gross margin, [...]
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