Analysts: Apple Sales May Decrease Next Year and 3 Other Research Notes to Peruse

Apple (NASDAQ:AAPL): Bernstein believes that consensus estimates for Apple are ignoring the sharper-than-usual decline in iPhone sales that will occur in the March and June quarters as a result of a new carrier deal in Japan and an earlier-than-usual China iPhone launch. As a result, Bernstein’s March and June quarter estimates for Apple are well below consensus. The firm expects the company’s overall revenue to rise only 3 percent in the 2014 and 2015 fiscal years, but it keeps an Outperform rating on the shares nevertheless.

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Hertz Global (NYSE:HTZ): After speaking with Hertz’s management, Wells Fargo believes that issues which caused the company to reduce its guidance on Thursday are temporary. The stock offers good value for investors with six to 12 month time horizons, according to the firm, which keeps an Outperform rating on the shares.

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Oracle (NASDAQ:ORCL): After attending Oracle’s OpenWorld, Wells Fargo believes that Oracle’s vision and descriptions of its products have become much clearer than a year ago. The firm thinks the company’s earnings per share can grow at more than a 10 percent clip over the longer term, and it believes that the shares are undervalued. Wells reiterates an Outperform rating on the stock.

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United Continental (NYSE:UAL): Cowen believes any weakness in United Continental following its lower-than-expected PRASM guidance would be a buying opportunity. Shares are Outperform rated with a $39 price target.

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