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  • Canaccord Genuity Sees $160 for AAPL

    Even with AAPL trading just north of $126 a share today on a down day for Wall Street, Apple is still quite a bargain purchase -- or so says one prominent analyst at Canaccord Genuity.

    On Monday, analyst T. Michael Walkley told investors that AAPL still has a motor on it. Consequently, Walkley upped his AAPL price target to $160.00. His previous upside target was $155.

    The reason for the added optimism is the ever-mounting pile of evidence that Apple is dominating to a new degree the global high-end smartphone market. Following two ridiculously profitable quarters, Apple is on track for potentially even bigger gains as Apple Watch proliferates and new iPhones/iPads loom on the horizon as 2015 progresses.

    "We believe these trends should grow the iPhone installed base to over 500M users exiting C2015, and this bodes well for future strong iPhone replacement sales, earnings, as well as cash flow generation to fund strong long-term capital returns programs similar to the $200B program announced on April 27th," Walkley said today.

    Source: StreetInsider
    This article was originally published in forum thread: Canaccord Genuity Sees $160 for AAPL started by Michael Essany View original post