Apple's earnings were awful - and analysts LOVED it
Apple reported a pretty terrible Q2 earnings last night, with revenue down 13% to $50.6 billion and EPS down 22% to $1.90, below expectations.
This morning, analysts in The City and on Wall Street say ... they loved it!
The main theme from notes to investors this morning is that the bad news about iPhone - declining units sold this quarter and maybe throughout the rest of the fiscal year - is now priced in and quantified. So they are looking further ahead to the launch of iPhone 7 in autumn, which they believe will kickstart sales growth again.
Many analysts thus have a buy rating on AAPL right now, even though the stock flopped by 7% overnight and sits at about $104.35 prior to the opening of the New York markets.
Here's a look at who is saying what.
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