- Maintains Apple (AAPL +0.3%) at Buy and raises target from $120 to $130 (current price $112.19).
- Increases iPhone unit expectations for Q1 2017 to 79.4M from 73M previously.
- Analyst Jim Suva highlights strong early iPhone 7 demand indicators assessed by his firm through U.S., European, Canadian and Asian store checks, aggressive carrier promotions, Samsung Galaxy Note 7 recalls and positive component supply chain commentary.
- Further revises Q1 2017 revenue, gross margin and EPS levels to $73.3B, 38.7% and $3.15, respectively.