Another Apple (AAPL) Target to $235 On Big 3G iPhone Sales


Pacific Crest’s Andy Hargreaves sees “significant upside” to his 15.5 milliion 3G iPhone projected unit sales number because of the new low $199 price point (although he has not revised the estimate). While that estimate is low compared to some on Wall St–Morgan Stanley’s at 27 million–Hargreaves has bumped his target for AAPL up $10 to $235 and upped his EPS estimate for the September 2009 fiscal year from $6.20 to $6.55.

Pacific Crest maintains OUTPERFORM on Apple (AAPL), target price from $225 to $235.

See Also:
Apple (AAPL): iPhone Sales Could Exceed 25% of Apple’s Revenue in 2009 (AAPL)

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