Analysts: Apple iPhone Estimates Cut and 3 More Research Notes to Check Out

Apple (NASDAQ:AAPL): Jefferies has lowered its Q3 iPhone estimates to 27 million from 30 million, as well as its Q4 estimate to 45 million from 50 million after its channel checks indicated broad-based iPhone build plan cuts. The firm says it remains cautious on the stock, and dropped its price target for shares to $405 from $420 while keeping a Hold rating on the name.


CarMax (NYSE:KMX): RW Baird believes CarMax investors could see some buying opportunities on current interest rate fears, and cites its proven retail concept, addressable market, and under appreciated auction business as reasons to buy shares on weakness. Shares are Outperform rated with a $52 price target.


Whirlpool (NYSE:WHR): Bank of America/Merrill Lynch has trimmed its estimates on Whirlpool, due to currency exposure. However, the firm recommends buying Whirlpool on the dip and expects earnings growth and innovation to eventually offset investor concerns. Shares are Buy rated with a lowered price target of $160.


VeriFone (NYSE:PAY): Susquehanna believes that VeriFone is well positioned in the Indian market, which is under-penetrated by POS systems. The firm expects the POS market to grow by at least 20 percent over the next few years which could add to earnings, margin expansion, improved free cash flow, and stock buybacks. Shares are Positive rated with a $25 price target.


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