“Apple’s iPhone 5s is selling well and that’s good news for its stock,” Chris Ciaccia reports for TheStreet. “Like anyone didn’t already know that ;).”
“Canaccord Genuity analyst Michael Walkley boosted his target price to $600 from $580, based on ‘very strong iPhone 5s sales with improved levels of supply for all color SKUs,’ according to a research note on Thursday,” Ciaccia reports. “Walkley also noted that that the imminent iPhone launch with China Mobile could boost March ‘iPhone sales and offset some of the anticipated sharp decline in iPhone sales post the holiday selling season.'”
“As a result, Walkley boosted his earnings estimates to $48.78 and $50.02 in 2014 and 2015, respectively. He expects Apple to generate $187 billion in revenue next year and $201.4 billion in 2015,” Ciaccia reports. “Analysts surveyed by Thomson Reuters are looking for Apple to earn $43.55 and $47.68 on revenue estimates of $184.1 billion and $196.01 billion in fiscal 2014 and 2015.”
Read more in the full article here.
Related article:
Canaccord: Apple’s iPhone 5s ‘by far the top selling smartphone’ in the U.S. for 3rd straight month – December 12, 2013