“Shares of Apple rose Tuesday morning after Pacific Crest upgraded its rating on the stock to ‘outperform,’ citing high expectations for the company’s next iPhone, which the firm expects to sport a 4.7-inch display and $299 starting price tag,” Neil Hughes reports for AppleInsider.
“Analyst Andy Hargreaves issued a note to investors on Tuesday, setting a new [AAPL] price target of $635, or about $100 more than its current trading price,” Hughes reports. “He sees a larger iPhone priced starting at $299 increasing gross profit on replacement sales, and also attracting new customers that would otherwise have opted for an Android handset with a bigger display.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]