“Ticonderoga Securities analyst Brian White writes that Apple’s announcement today of a new subscription feature that publishers can offer for its iPad and iPhone and iPod is an ‘incremental positive’ for the company that highlights the value of Apple’s ‘ecosystem,'” Tiernan Ray reports for Barron’s.
“Apparently, Elle magazine’s app for iOS is one that is already offering subscriptions, in case you want to run and see what it’s like,” Ray reports. “White is upbeat on the matter. Subscriptions will ‘extend the reach of Apple ecosystem,’ he writes. ‘With Apple’s growing ecosystem of iOS devices and iTune users, the company offers content providers a deep customer base and a more innovative way to transact business.'”
Ray reports, “White has a Buy rating on Apple and a $550 price target.”
Read more in the full article here.