Scalper1 News
Strong demand for Apple’s (AAPL) iPhone 6 smartphones should continue through the rest of the year, Canaccord Genuity analyst Michael Walkley predicted in a research report Sunday. Walkley reiterated his buy rating on Apple stock and raised his price target to 160 from 155, based on iPhone sales momentum continuing. Apple stock was down a fraction, near 127, in afternoon trading on the stock market today. “Apple dominated the high-end global smartphone market during (the first quarter) with near-record share of industry profits and ongoing market share gains,” Walkley said. “In fact, we believe Apple’s strong fiscal Q2 results and fiscal Q3 guidance are consistent with our surveys and analysis indicating a very strong iPhone 6 upgrade cycle should continue through calendar 2015.” Only 20% of iPhone users have upgraded to the bigger-screen iPhone 6 series handsets, he said. That creates an opportunity for a continued strong replacement cycle, Walkley… Scalper1 News
Scalper1 News