“Sterne Agee’s Shaw Wu this morning reiterates a Buy rating and a $715 price target on shares of Apple, writing that while the ‘greatest turnaround and growth story of the past decade’ is not over for the company, nevertheless, the company has to take some steps to ‘reclaim high-end leadership as iPhone 5 isn’t viewed as high-end anymore’ and ‘get more aggressive in the midrange’ of smartphones,” Tiernan Ray reports for Barron’s.
Ray reports, “Apple needs to take risks more, he thinks: ‘Sure iOS, iTunes, and the App Store are great but it is clear that many customers want larger screens. AAPL has obviously had a lot of success over the past decade with the same strategy but we think the company needs to think different and not be afraid of taking risks.'”
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MacDailyNews Take: iPhone 5 isn’t viewed as high-end by whom, exactly? The iPhone 5 is the best-designed, best-built model of the smartphone that revolutionized the industry. There is nothing that surpasses it, there is no higher-end; certainly not the derivative plastic crap on the market from Samsung, stamped out to tolerances that Apple would toss in the reject bin before ever allowing them to be sold with the Apple logo.