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A sort-of correction to a story I brought you last week. On 13 January I told you that Loop Capital Markets analyst John Donovan was really liking what he was seeing for the average selling price for iPhone. He’s clocking that at around $900 per, while the Street is modeling an ASP of $817.
What’s the correction? I can’t figure out who John Donovan is. Investors Business Daily had him down as the analyst covering Apple for Loop Capital Markets. There is a James Donovan who’s a Senior VP at Loop Capital Holdings. Though pretty quiet for the last several months, it looks like Ananda Baruah is still the one covering Apple for Loop Capital Markets, and he has made a move on Apple shares.
The Fly wrote up a note he wrote over the weekend, saying basically the same stuff the ghost of John Donovan said - that the rest of the street is missing on ASP estimates for iPhone. Baruah’s note did one thing that the other write-up did not - pulled the firm’s price target out of the drink. Loop Capital had had a “Buy” rating on Apple shares and an underwater price target of $165. The “Buy” rating is still there, though the target’s been raised to $210.
And if you see John Donovan, please tell hims to call. We’re worried.
