Argus Expects Apple To Report Strong Q1 Results, Sees Double-Digit EPS Growth Through 2016

Jim Kelleher of Argus Research wrote in a note on Friday that Apple Inc. AAPL is expected to report “strong” first quarter results due to the success of the company's iPhone 6 and iPhone 6 Plus. Kelleher expects the company to report it shipped 67.3 iPhone units in the quarter. At the same time, the analyst expects iPad sales benefited from seasonal strength. As such, the company is likely to post a double-digit earnings per share growth in fiscal 2015 and fiscal 2016. Shares were reiterated with a Buy rating with a price target boosted to $125 from a previous $120.