Canaccord Genuity ups Apple price target to $160 on iPhone domination

Canaccord Genuity analyst T. Michael Walkley bumped his price target on Buy-rated Apple to $160.00 (from $155.00) after the firm’s latest analysis showed that Apple dominated the high-end global smartphone market during Q1/C2015 with near-record share of industry profits and ongoing market share gains,” StreetInsider reports.

First, given our estimate only 20% of the iPhone installed base upgraded to iPhone 6 smartphones by the end of Q2/F2015, we anticipate continued strong replacement sales to existing iPhone consumers. Second, consistent with management commentary, we anticipate continued high-end smartphone market share gains for the larger screen iPhone 6 devices as our surveys indicate a greater mix of Android smartphone consumers are switching to the iPhone 6 smartphones than in the iPhone 5 series launches. — Canaccord Genuity analyst T. Michael Walkley

Read more in the full article here.

MacDailyNews Take: Headroom.

12 Comments

  1. Give it the PE Microsoft enjoys and we would be at 160 ish today !

    I believe a seriouse and profound statement in the TV environment will allow for systained and higher PE valuation by the market.
    Add to that all the other new products and higher earnings and we will be at 1 trillion very soon !

        1. This may come as a surprise to you but there is a possibility that your consistent down-vote history may be as a results of the quality of your posts. Just consider who the ‘idiot’ may be before jumping to conclusions that it is trolls who vote you down. I hope this helps you understand what may be happening.

          1. Other factors may be involved beyond the quality of the post! Have you considered that? His handsome avatar alone may be garnering a lot of envy down votes.

          2. my diwn votes started 2 weeks ago… As the watch was released and i confronted a few trolls..
            Before that all seanec to be ok.

            Maybe you should check my history a bit farther back !

Add Your Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.