“RBC Capital Markets on Monday increased its price target for Apple stock to $120 per share, a number that incorporates the investment firm’s expectations for the upcoming Apple Watch, predicted to sell 20 million units in its first 12 months,” Neil Hughes reports for AppleInsider.
“RBC analyst Amit Daryanani said on Monday that his new price target incorporates estimates for the Apple Watch, which he expects will launch around March of 2015,” Hughes reports. “He predicts that Apple could sell 20 million units in the wearable device’s first 12 months, with an average selling price of $520, achieving $10 billion in added revenue over the period.”
“Thus far, Apple has said little about its upcoming Watch, offering a launch window of “early 2015″ and a starting price of $349,” Hughes reports. “Daryanani expects that some versions of the Apple Watch — most notably the fashion-focused 18-karat gold edition — will sell for over $1,000.”
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