“Deutsche Bank’s Chris Whitmore reiterated a Buy recommendation on the stock and raised his price target on [Apple Inc. AAPL] shares to $530 from $500, arguing that a cheaper iPhone may boost the company’s shipments, and that its production of iPads is doing well,” Tiernan Ray reports for Barron’s. “Whitmore reiterates his belief that two new models of iPhone will come out in October, a version ‘5,’ and a version ‘4S,’ the latter being a cheaper device that will help the iPhone take over what is now the mid-range, or ‘feature-phone’ market.”

“Whitmore raised his iPhone unit shipment estimate this calendar year to 82 million units from a prior 79 million, and raised his 2012 estimate to 110 million from 105 million,” Ray reports. “As for iPad production, ‘iPad manufacturing yields and volumes improved materially through 3Q which should support both margins and drive volume upside in the quarter.'”

Read more in the full article here.

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