“The addition of a mobile payments service to Apple Inc’s next iPhone could help to boost sales of the larger-screen phones and claw back market share lost to mobiles running on Google Inc’s Android platform,” Soham Chatterjee reports for Reuters. “Apple shares rose as much as 1.3 percent on Wednesday, a day after the launch of the iPhone 6 and the Apple Watch – the first new product introduced by Chief Executive Tim Cook.”
“At least six brokerages raised their price target on Apple’s stock by as much as $16 to a high of $116,” Chatterjee reports. “Many on Wall Street hailed Apple Pay – the company’s new wireless payment system – with Piper Jaffray’s Gene Munster calling it the ‘star of the show’ at Tuesday’s gala launch… ‘Apple Pay is a feature that should help sell Apple products and provide some small help to the bottom line,’ BMO Capital Markets analysts said.”
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