Jefferies lowered the firm’s price target on Apple (AAPL) to $276.47 from $283.36 and keeps a Hold rating on the shares. Even though the firm has trimmed its service revenue forecasts, noting that Sensor Tower data shows App Store revenue grew only about 7% in the December-end quarter, which would mark the slowest in the last seven quarters, the analyst believes strong iPhone sales could likely drive a 3% beat in both revenue and EPS in the upcoming report.
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