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  • Canaccord Genuity Ups AAPL Price Target

    Even as shares of AAPL begin to cool their accelerated growth, leading Wall Street analysts appear to believe that AAPL still has significant upside potential.

    On the heels of news that the iDevice maker has secured some 90 percent of the profits of the smartphone industry, it's no surprise that price targets for AAPL are being lifted by prominent Wall Street watchers, including T. Michael Walkley of Canaccord Genuity.

    "We believe Apple dominated handset industry operating profits and captured a remarkable 93 percent of Q4/C'14 handset industry profits based on data compiled from leading smartphone OEMs (original equipment manufacturers)," Walkley told investors this morning (according to CNBC).

    Fittingly, the analyst has upped his price target on Apple to $145 (that's up $10 a share from $135). If we get to that price (and you'll be hard-pressed to find an analyst who doesn't expect this eventuality), it will be a 22 percent jump from $118.93, which is where AAPL closed on Friday.

    And nobody is ruling out further growth from there.

    "We believe the strong iPhone 6 replacement sales should continue during C'15, as we estimate only 15 percent of the current estimated 404 million iPhone installed base has upgraded to the new devices," Walkley is quoted by CNBC. "We also anticipate continued strong share gains for the larger-screen iPhones from high-tier Android smartphones during C'15 driving strong growth in the iPhone installed base and model the iPhone installed base growing to 487 million subscribers exiting C'15 up 20 percent Y/Y."

    Source: CNBC
    This article was originally published in forum thread: Canaccord Genuity Ups AAPL Price Target started by Michael Essany View original post