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If Apple’s (AAPL) iPhone Upgrade Program catches on, it could make the company’s smartphone business more like an annuity and less dependent on hit new handsets to drive sales, UBS analyst Steven Milunovich said Tuesday. If Apple were priced as an annuity business, the stock could be worth over $200 a share, Milunovich said. He has a price target of 150 on the stock because customer use of the Upgrade Program likely will occur gradually. Investor Scalper1 News
Scalper1 News