Apple Set to Sky Rocket on Wall Street Next Week?
In one week’s time, we’ll know everything we’ve ever wanted to know about Apple’s next-generation iPhone 6.
And we may know just as much about Apple’s long-rumored iWatch.
Consequently, with market watchers and industry analysts arguably more optimistic about Apple’s future than they ever have been before, it comes as no shock that projections for Apple’s growth on Wall Street are growing more buoyant by the day.
On Tuesday, Piper Jaffray’s Gene Munster reiterated an Overweight rating and increased his price target to $120 from $105.
Munster tells investors that Apple will introduce “new products and services that will likely give investors optimism that the platform theme is expanding,” naming iWatch, HomeKit, HealthKit, and mobile payments as examples.
Munster, however, isn’t exactly certain that we’ll see iWatch next week.
“There has been some recent speculation that the iWatch may actually be announced at the 9/9 event. We give the watch a 50% chance of being announced at the iPhone event,” Munster proposes. “Our rationale is that Apple seems less likely to launch a new product category alongside the phone when it could dilute some of the attention from the core product vs. launching alongside iPads, which are expected to get more modest updates.”