“RBC analyst Mike Abramsky raised his target for Apple shares to $250 from $190,” AP reports. “He expects 31.4 million iPhones to be sold in Apple’s 2010 fiscal year, which begins in October. In the three months that ended June 27, Apple sold 5.2 million of the phones.”
“Abramsky said Cupertino, Calif.-based Apple is poised to take advantage of a growing market for smart phones,” AP reports. “He expects they will account for 35 percent of the global handset market by 2012.”
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