“Apple (AAPL) is hosting a press conference at its headquarters in Cupertino, California, tomorrow morning, and it’s expected the subject will be the unveiling of a new model of the iPhone,” Tiernan Ray reports for Barron’s. “A couple of folks on the Street this morning have weighed in with the view that the stock has been underperforming its historical ramp into iPhone announcements, and that there could be upside after the meeting, as a result.”
Ray reports, “William Power with R.W. Baird this morning reiterates an Outperform rating on Apple shares and a $485 price target, writing that Apple’s new model, whatever it is, will ‘continue to set the standard’ for smartphones… Brian White with Ticonderoga Securities expects long, long lines after pent-up demand for the iPhone, given there was no summer introduction. He thinks the thing may sell more than the 1.7 million units of the iPhone 4 that happened in the first three days it was on sale. White, who refers to the new model as the ‘iPhone 5,’ is going with the rumors of a ‘sleek, new look’ using an aluminum casing. He makes note of the prospect there will be an upgraded model similar to the 4, called the ‘iPhone 4S.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]