Analysts: Apple Has Cut iPhone Production Forecast and 3 More Research Notes to Check Out
Apple (NASDAQ:AAPL): Wedge Partners believes Apple has cut its iPhone production forecast by 20 percent for the second half of 2013 to the 90-100 million unit range, down from the previous 115-120 million unit range, in light of slowing global demand for high-end smartphones.
Yum! Brands (NYSE:YUM): OTR Global thinks that Yum! Brands’ June sales trends in China have improved dramatically year-over-year, especially compared to sales trends in May.
CarMax (NYSE:KMX): ITG surmises that CarMax’s second quarter unit comparables are tracking up through the first month of the quarter, within a range of 14-16 percent compared to a consensus of 9.3 percent.
Tesla Motors (NASDAQ:TSLA): Bank of America/Merrill Lynch says Tesla’s current share price implies 321,000 annual unit sales and EBIT margins of about 12.5 percent in 2020, noting this is a full 300,000 units higher than its current 2013 estimate and EBIT margins are substantially more than industry averages. The firm believes Tesla sales could level off in the next year if they follow normal industry patterns, adding that forecasts are overly bullish. The firm rates Tesla shares as an Underperform with a $39 price target.