J.P. Morgan holds steady on Apple rating, target
NEW YORK (MarketWatch) — J.P. Morgan analysts on Wednesday published a research note on Apple Inc. reiterating their strong buy rating and 0 a share price target on the iPhone and iPad maker. The stock’s been pressured lately amid concerns in some quarters about signs of slowing iPhone business. “Our research indicates that the order cuts could impact the March quarter, but build plans are ever-changing. Either way, we think the order adjustments are explainable but not alarming. We also think that the supply chain adjustments could imply that manufacturing yields on iPhone 5 have improved, which means Apple’s gross margin profile could rebound to 40%, which would be a positive.
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