Apple Inc. (NASDAQ:AAPL) is one of the most contested stocks right now, and it’s easy to see why. It is currently the most valuable company in the world, so why shouldn’t we be talking about it? The problem is that there’s so much to cover, and everyone has a different point of view.
Analyst Brian J. White of Topeka Capital is the latest to step into the Apple ring. In a report issued to investors today, he seeks to quell some of the concerns over the iPhone 5 order cuts. He said that Apple Inc. (NASDAQ:AAPL) has only made these cuts at “certain suppliers.”
He also stated that he remains “more than comfortable” with his iPhone estimates for the first quarter of next year and even into the second quarter as well. White even said that there’s a possible upside to his projections, and he believes the “doomsday scenarios painted over the past week are inaccurate.” White is certainly bullish over shares of Apple Inc. (NASDAQ:AAPL), and he’s calling for investors to be bullish as well. White has set his target price at an incredible $1,111 and rated shares of Apple as Buy.
Additionally, Bank of America Merrill Lynch (BAML) analysts have also given the stock a Buy rating, although their price objective is a considerably smaller $720. In the report issued to investors today they said that they believe the cuts in components for the iPhone are being driven by adjustments in component inventory and not by “a sharp drop in end-demand.”
On the other hand we have reports from several investors who have downgraded their views on shares of Apple. On Tuesday ValueWalk reported on the competing views of analysts. We also covered BAML’s cuts to Apple shares more in depth.
In early market trading on Wednesday shares of Apple Inc. (NASDAQ:AAPL) were up more than 1 percent and trading just over $535 per share. The stock rose steadily throughout the day on Tuesday.