Maxim analyst Tom Forte raised the firm’s price target on Apple (AAPL) to $215 from $203 and keeps a Hold rating on the shares. The company’s Q4 sales and gross margin exceeded consensus, the firm’s estimates, and guidance, though its lower GAAP EPS was due to a higher-than-expected tax rate, the analyst tells investors in a research note. Apple also guided Q1 revenue growth of low-mid single digits, and assuming growth rates of 2.5%-5.0% this equates to $119.9B-$125.6B, below consensus of $127.5B, Maxim added.
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