UBS ups Apple price target to $125 from $115

“UBS maintained a Buy rating on Apple (NASDAQ: AAPL) and raised its price target to $125.00 (from $115.00),” StreetInsider reports. “The change follows a proprietary global smartphone survey. Analyst Steven Milunovich noted China demand and brand strength.”

“‘About 40% of respondents are likely to buy an iPhone 6 in the next year. Over half of intended purchases are for the 6 Plus compared to 38% for the iPhone 6. We have modeled a 2.5-to-1 ratio favoring the iPhone 6, so a tilt toward the 6 Plus would be positive for Apple’s phone ASPs and earnings. Demand in China is surprisingly high with 29% indicating they are very likely to choose the iPhone 6, more than other regions. Almost one-third of interested iPhone buyers currently own Samsung phones, foreshadowing significant share gain for Apple,’ said Milunovich,” StreetInsider reports.

Read more in the full article here.

[Thanks to MacDailyNews Readers “Sarah” and “Nick P.” for the heads up.]


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