“Wall Street still loves Apple,” Garett Sloane reports for The New York Post. “Nine days before shoppers get a chance to vote with their wallets on the iPhone 5, analysts are praising the tech giant’s latest gadget. ‘The consumer is going to be blown away,’ said Jefferies & Co.’s Peter Misek.”
“The analyst is forecasting the new 4G smartphone will sell 58 million units this year — far above the average estimate of 47 million,” Sloane reports. “Misek has a price target of $900 on Apple shares. The Cupertino, Calif., company’s stock closed yesterday at $669.79, up 1.4 percent. It is up 65 percent this year.”
Sloane reports, “Brian White, an analyst with Topeka Capital Markets, said after Apple unveiled the latest version of its most profitable gadget that he expected sales of the iPhone 5 to surpass forecasts in the first three days and hit 5.5 million units…”
“The unusual amount of iPhone 5 leaks — photos, specs, 4G speed, timing of its retail arrival — lessened the surprise for Wall Street and consumers,” Sloane reports. “Apple, known for its tight secrecy, could not keep the iPhone 5 under lock, and it became the most leaked product in the company’s history. That doesn’t seem to have discouraged Wall Street.”
Read more in the full article here.
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