“Apple shares will rise as consumers buy more expensive iPhones, according to one Wall Street firm,” Tae Kim reports for CNBC. “”

“UBS raised its price target to $210 from $190 for Apple shares, representing 12 percent upside to Thursday’s close,” Kim reports. “The firm cited the premium nature of the company’s brand.”

Buying intent [for smartphones] is down slightly across the world though the mix of iPhone X appears strong. The brand remains aspirational… We do think the P/E could rise over time as Apple is perceived more like Nike than like Nokia. — UBS analyst Steven Milunovich

Kim reports, “He noted that 44 percent of planned purchases in the UBS survey of consumers are for the more expensive iPhone X, which is up from the 30 percent level in the previous October survey.”

Read more in the full article here.

MacDailyNews Take: The aplomb with which Steve Jobs pancaked the likes of deer-in-the-headlights Nokia won’t soon be seen again.

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