Investors Should Give Apple’s Q1 2013 Call ‘Another Look,’ Barclays Says
Though sentiment following Apple’s earnings call for the first quarter of fiscal 2013 was overwhelmingly negative, one analyst believes the call deserves a second look to highlight the positives, including the company’s strong cash flow.
Erica Chase of Barclays issued a note to investors on Tuesday in which she declared Apple’s most recent quarterly earnings call as one that “deserves another look.” Barclays has an “overweight” rating for AAPL stock with a price target of $575.
Chase noted that while investors have shown concern about competition and execution, she believes there were “major positives” during the earnings call. In particular, she noted Apple’s strong cash flow, and a conservative margin outlook that she believes could “grow on investors now that the damage is done.”