Apple to soar on iPhone, app store merits, analyst says

Discussion in ' News Discussion' started by MacBytes, Sep 21, 2009.

  1. MacBytes
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    macrumors bot

    Jul 5, 2003


    Category: Apple Hardware
    Link: Apple to soar on iPhone, app store merits, analyst says
    Description:: Apple Inc is to welcome its latest 52-week high on the iPhone and the iTunes App Store growth, analyst says this week, lifting price target on Apple from $200m to $235.

    "The sole driver of the increase in Apple's price target is a higher valuation of the iPhone," Charlie Wolf of Needham & Company wrote in a research note to investors this week. "Courtesy of network effects, the explosive growth of the iTunes App Store...should translate into a higher growth trajectory of iPhone sales going forward," Wolf added.

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  2. Luap
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    macrumors 65816


    Jul 5, 2004
    Oh lord. Yet more analyst BS published by MacRumors?? Come on guys. You know better surely!? Especially in this case.. Apple has been doing rather well out of iTunes & iPhones/App store for well over a year! This is not news.

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