TMCnet News
Apple Upgraded On iPhone Expectatons And Rumored Seamless Service Platform (AAPL)Oct 02, 2009 (SmarTrend(R) News Watch via COMTEX) -- 10/2/2009 - Apple Inc.'s (NASDAQ:AAPL) shares were upgraded to "buy" by an analyst with UBS on higher expectations for the company's iPhone and speculation for a service platform that the company may be working on and raised his price target to $265, up from $170. Analyst Maynard Um said that he believes the company may be working to build a service "to provide seamless access and mobility of digital content across all its products," and said the service could help to drive future product sales. Um said that he believes the popularity of the App Store on the iPhone will drive a large "recurring hardware revenue stream," as existing users chose to stay and upgrade their products rather than switch to another device. He added, "We are less concerned with regard to margin pressure as demand does not appear to be shifting to the $99 iPhone 3G and a lower end 3GS does not appear to be forthcoming, as we had originally feared." Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com. Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html |