“Analyst Trip Chowdhry of the boutique research firm Global Equities Research today reiterates an Overweight rating on shares of Apple (AAPL), and a $142 price target, writing that the company’s forthcoming Apple Watch wearable, which may come out in April, ‘will be a phenomenal success,'” Tiernan Ray reports for Barron’s.
“Chowdhry bases his view on what he claims are conversations with ‘no less than 70’ developers working with the software kit for Apple Watch, called ‘WatchKit,'” Ray reports. “Chowdhry contends that ‘Every iPhone user will also be an Apple Watch user,’ because of the fact that users often glance at their phone and the watch can take over some of that: ‘A typical user takes their iPhone out of their pocket, glances at some App on the iPhone, and then puts the iPhone back into their pocket. An average user does this 110 times a day.'”
Ray reports, “Apple Watch will ‘probably be the most successful product in Apple’s history… probably breaking all the previous records,’ he contends.”
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