“Shares of Apple (AAPL) are up $3.03, or 0.7%, at $433.61, following a quartet of notes defending the shares this morning,” Tiernan Ray reports for Barron’s.
“Three out of the four observers press the case that Apple will return to a prior tradition of unveiling a new iPhone during the summer months rather than the fall, in contrast to others this week who were shifting the time frame till later in the year, such as Barclays’s Ben Reitzes did on Wednesday,” Ray reports. “Credit Suisse’s Kulbinder Garcha reiterates an Outperform rating and a $600 price target, writing that he recently had a call with Apple CFO Peter Oppenheimer, who sounded ‘confident, yet realistic,’ and that Garcha came away with the impression ‘there are several longer term growth drivers that exist for Apple.'”
Ray reports, “Abhey Lamba with Mizuho Securities USA reiterated a Buy rating and a $575 price target, writing that a new iPhone model might come by mid-year… Raymond James’s Tavis McCourt reiterates an Outperform rating and a $600 price target, concurring that an ‘iPhone 5S’ may come earlier, probably in Q3.”
Much more in the full article here.