Canaccord bumps Apple price target to $515 on iPhone’s profit share

“Canaccord Genuity analyst Mike Walkley this morning raised his price target on shares of Apple (AAPL) to $515 from a prior $510, writing that in Q2, when Apple toppled Nokia to become the world’s largest seller of smartphones by volume, the company’s share of the handset industry’s profit rose from 51% to 57%,” Tiernan Ray blogs for Barron’s.

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“All in all, the top smartphone players — Apple, Research in Motion, and HTC — took 77% of the industry’s profits, combined, up from 74% in Q1,” Ray reports.

Read more in the full article here.

[Thanks to MacDailyNews Reader “Brawndo Drinker” for the heads up.]

3 Comments

  1. “All in all, the top smartphone players — Apple, Research in Motion, and HTC — took 77% of the industry’s profits, combined, up from 74% in Q1,” Ray reports.”

    Canaccord is heavily into RIM stock. Apple got 66% of the profit, HTC got 11% and RIM broke even.

    Sounds like RIM is in the big three. It isn’t but this bullshit announcement makes it look like it belongs there.

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