Technology

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Technology

JPMorgan: iPhone 5 To Restore Apple (AAPL)’s Investor Confidence

JPMorgan Chase & Co. (NYSE:JPM) analysts have maintained their heavyweight price target of $675 on Apple Inc. (NASDAQ:AAPL), expressing their optimism in iPhone 5 sales for the next two quarters, notes Barron’s blog. Mark Moskowitz notes that, data from the Asian electronics supply chain, obtained by his colleagues, supports his current outlook for iPhone shipments in the first couple quarters of next fiscal year. Nonetheless, Moskowitz is well aware of Apple’s missed Q3 iPhone sales, as earlier featured in our post. He notes that, revenue miss experience during the quarter was nothing new. He points to the cyclical nature of Apple’s business, which results into volatility of sales. However, he […]