“‘We counter the [Apple] bears, arguing that App Store growth is sustainable and take rates are defensible,” Kim reports. “As a result, we believe Services margins have room to expand and the market is undervaluing the Services business,’ analyst Katy Huberty said in a note to clients.”
Kim reports, “Huberty raised her price target to $214 from $200 for Apple shares, representing 14 percent upside from Wednesday’s close.”
Read more in the full article here.
MacDailyNews Take: Last month, Huberty lowered her price target from $203 to $200, saying Apple’s share price might fall on ‘materially’ weaker iPhone sales.
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