Here are the biggest calls on Wall Street on Thursday
Raymond James upgraded the stock saying it had "conviction" in the"Our call may well be early – we expect this year's iPhone cycle to be the weakest in years, and today may not be the right time to buy ahead of that weakness. But since the near-term market moves are being driven by macro conditions as much as fundamentals, we've decided to upgrade now and let our clients decide the best time to execute on our idea.
"We are downgrading to neutral after a stellar 80%+ run-up YTD . With the stock past our PT and at 10-yr high, we see 2H upside more limited with 1) 1H19 PC pull-in, 2) slower 2H Rome ramps, and 3) overall 2H server/spending inline combined with INTC pricing pressure. We are moving to the sideline N-T, lowering our 2H estimates, and adjusting PT to $37 given good execution and improving SOX multiples. We would revisit at a more attractive entry point as the L-T roadmap is still intact.
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