Although we won’t know for certain how Apple did during the third financial quarter until after the markets close tonight, analysts this morning came out with their usual prognostications, including a surprise reduction from Oppenheimer on the target price for the Cupertino, Calif. company’s stock.
Oppenheimer analyst Yair Reiner told investors this morning he is concerned the negative publicity over the iPhone 4’s reception problems could hurt sales. “We believe the iPhone 4’s antenna performance is comparable to that of other smartphones, but in the court of public opinion, perception is reality,” Reiner writes. “The perception — created by a scoop-hungry media and Apple’s newly-emboldened wireless adversaries — is that the 4 is faulty,” the analyst adds.