JP Morgan Predicts Apple Stocks To Reach $108 Per Share Due To Upcoming iPhone 6
J.P. Morgan investment firm is the latest to increase the price target for Apple stocks. They predict that Apple will be pushing it to $108 a share due to the upcoming dubbed iPhone 6 launch. Analyst Rod Hall issued a note stating shares of AAPL will most likely grow more than current Wall Street expectations. He also predicts that there are many new products in store for Apple to be released in the fall of this year, along with the new iPhone. Hall’s previous target of $89 is now upped by $19 making the new price target $108.
Along with the new iPhone, Hall expects Apple to release the dubbed iWatch this year as well. However, he doesn’t think the iWatch specifically will have much effect on the company’s bottom line. The first investment firm to raise the price target on Apple recently was Needham & Company, increasing it to $97. Analyst Charlie Wolf also claimed that sales of the iPhone 6 will be high along with Apple’s new programming language, Swift, which was introduced this year at WWDC.
Source: J.P. Morgan via AppleInsider