toggle

AAPL Stock: 102.99 ( + 0.52 )

Printed from http://www.macnn.com

Jefferies restores 'buy' rating to Apple stock, sets $600 target

updated 10:32 am EDT, Mon October 7, 2013

Claims iPhone 6 will have 4.8-inch screen

Jefferies analyst Peter Misek has upgraded Apple stock from a "hold" to a "buy" rating, and set a new $600 price target. The change is attributed to a talk Misek had with suppliers, who are allegedly becoming more flexible with their component pricing. Apple's profits depend heavily on its ability to secure cheap parts, since the company is mostly inflexible when it comes to retail pricing.

Misek comments that eagerness for the iPhone 6 in 2014 should further aid the company. He claims that the device will have a 4.8-inch screen; the basis for that statement is unmentioned, although recent rumors have pointed to Apple working on bigger iPhone designs. The analyst's investor memo helped boost Apple in premarket trading on Monday. Since the NASDAQ's opening bell, Apple stock has risen over $9 more in value to roughly $492.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fr ...

toggle

Most Commented