Piper Jaffray Analyst Reiterates Buy Rating for Apple Inc. (AAPL)
Piper Jaffray analyst Gene Munster reiterates his Overweight rating for Apple Inc. (NASDAQ:AAPL) following his analysis of iPhone resale prices on Ebay. He notes that the secondary iPhone market is stable, and indicates that the company could outperform the market leading up to its release of the iPhone 7, which he believes to be approximately 12 weeks away. Since the launch of the iPhone 4, AAPL has outperformed the market by an average of about 14% in the 12 weeks leading up to releases.
According to TipRanks, Munster is a top ranked analyst with a 59% success rate recommending stocks and a 15.6% annual average return per rating.