Lehman Brothers raises Apple price target to $234 from $202

“Lehman Brothers raised its price target on Apple Inc. to $234 from $202 and cut AT&T Inc’s price target to $49 from $54, citing Apple’s announcement of the 3G iPhone at a discounted price tag,” Bijoy Koyitty reports for Reuters.

“Lehman Brothers analyst Ben Reitzes, who kept his ‘overweight’ rating on Apple, said the new price point of $199 and the company’s ability to drive multiple revenue streams would help the stock,” Koyitty reports.

“‘We believe existing revenue sharing arrangement (with Apple) costs AT&T $100 during the life of an iPhone customer,’ Lehman Brothers analyst Thomas Seitz, who kept his ‘overweight’ rating on the stock, wrote in a note to clients,” Koyitty reports.

Full article here.

[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]

1 Comment

  1. There are two things missing from the current iPhone. Both software.

    One is complete encryption of all data. The second is the ability of the iPhone with 3G to act as a Bluetooth modem.

    Who will be the first to write those applications?

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