Apple iPhone 6 To Outperform; Cowen Raises PT

Apple iPhone 6 To Outperform; Cowen Raises PT
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Apple Inc. (NASDAQ:AAPL) has been a darling of analysts recently owing to the upcoming launch of the iPhone 6, and Cowen & Company is the latest to give the tech giant some love. On Tuesday Cowen & Company officially became bullish on the stock and raised their price target to $102, expecting the stock to gain around 13% from their previous target of $90. This upward revision is based on an anticipated huge volume of sales for the company’s next-generation iPhone 6.

Huge demand for iPhone 6

Prospects for Apple Inc. (NASDAQ:AAPL)’s so-called ‘’iPhone 6” are very bright, as analysts are expecting record handset sales, even breaking the high standard set by the iPhone5 two years ago, according to analyst Timothy Arcuri. Two years ago LTE (Long Term Evolution) accessibility was somewhat limited, but it will not be an issue today.

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Furthermore, upply checks in Asia suggest that the company will have key components for some 100 million “iPhone 6” units before the end of the year. Arcuri believe the company is well prepared and is expecting huge sales for the holiday quarter and a hot start to 2015.

Apple Inc. (NASDAQ:AAPL) is also expected to a debut wrist-worn “iWatch”, which will be the next hot trend in the market. Expected sales could be between 10 million and 20 million units before the end of the year with an average selling price between $200 and $250, according to Arcuri. This will ultimately move the stock to new level.