$AAPL – NEW IPHONE SE MODEL IS UNLIKELY TO BOOST APPLE’S SALES: UBS
UBS says it wasn’t surprised by muted demand for iPhones in Apple’s latest quarter, but analysts were surprised by commentary for this quarter which was “somewhat subdued around iPhone, particularly given likely channel fill from the new iPhone SE model,” they say. Apple’s outlook implies flattish unit growth in a quarter that should benefit from a new product launch, which they analysts say points to continued softness in the company’s core portfolio. Apple rises 0.7%, and is up 30% in the past 12 months.