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12-13-2013, 12:30 PM #1
Evercore Says AAPL Will Soon Return to $700
Although shares of AAPL seem content these days hovering around $550, Evercore Partners analyst Rob Cihra said Friday that Apple stock will have a nice run in the coming weeks and months, likely restoring the company to its previous heights on Wall Street.
Consequently, Cihra raised his target price for the company’s stock from $630 to $700 per share. Presumably referencing Apple's hot new products and its major moves in china, the analyst says Apple now stands to benefit from “multiple points of unique leverage.”
Cihra notes that Apple uses the strategy it follows with iTunes for most of its monetization efforts. It drives more hardware, but the company’s App Store and iOS ecosystem as a whole provide areas which Apple can leverage for more revenue. He sees opportunities in measuring user behavior for advertising and also payments, both for offline and online transactions.
Although the analyst admits Apple is losing overall global market share to Android, it's of little consequence for Apple, which continues to lead Android on monetizing its digital offerings in ways Android can't come close to matching.
12-13-2013, 01:16 PM #2
Hot new products? Such as...........
12-13-2013, 02:18 PM #3
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