“Wells Fargo on Wednesday raised its projected price range for Apple stock, citing expectations that the company will become more flexible with its carrier partners, and that the anticipated inclusion of a fingerprint sensor in the ‘iPhone 5S’ will drive up adoption rates among consumer and corporate markets,” Neil Hughes reports for AppleInsider.
“Analyst Maynard Um boosted his price range for shares of AAPL to between $525 and $575, as he high expectations for Apple’s acquisition of AuthenTec, which is expected to result in a fingerprint sensor included in the company’s so-called ‘iPhone 5S,'” Hughes reports. “‘As consumers increasingly rely on mobile devices to transact and store personal data, a reliable device-side authentication solution may become a necessity,’ he said. Um also sees a fingerprint sensor driving sales in the enterprise market, as corporations are likely to see the benefits of strong security measures.”
Hughes reports, “While Um sees the “5S’ increasing Apple’s gross margins, a new mid-tier, multi-colored ‘iPhone 5C’ is also expected to open up new market opportunities for Apple.”
Read more in the full article here.
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