“UBS’s Steve Milunovich today reiterates a Buy rating on shares of Apple and a $130 price target, writing that ‘perhaps there is upside potential’ to the company’s alliance for business sales with International Business Machines ‘given the importance of mobile to IBM and enterprise to Apple,'” Tiernan Ray reports for Barron’s.
“Writes Milunovich, without citing sources, he has heard Apple and IBM will expand their offering of software more broadly to enterprise beyond initial vertical applications,” Ray reports. “Furthermore, Apple is driving the bus in this deal, he writes: ‘Our checks also indicate that Apple is dictating the terms of customer engagement. IBM sales people are only to have Macs with them running Keynote presentations developed by Apple.'”
Read more in the full article here.