“Shares of Apple are rising, higher by 0.88% to $111.35 on the first day of trading in 2015 this morning, after the company had its ‘buy’ rating reiterated with an increased price target of $125 from $120 by analysts at Argus,” Kurumi Fukushima reports for The Street.
“Analysts at the firm upped estimates based on iPhone 6 sales of 67.3 million units in the first quarter, or a 32% gain from a year ago,” Fukushima reports. “Argus also cited an increase in iPhone revenue of 24% in the first quarter from last year to $40.4 billion.”
Fukushima reports, “The firm added that it continues to see further double-digit earnings per share growth in 2015 and 2016.”
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