Citi and Lehman have already expressed their love for the new 3G iPhone and Apple’s (AAPL) stock. Now Needham, Oppenheimer, and Piper join the club:
Needham maintains a STRONG BUY. They believe iPhone sales will soar in 2H08 due to the $199 price tag.
Oppenheimer reiterates OUTPERFORM. They believe the iPhone is poised to become a mass market product because of the new low price. They would use any weakness as a buying opportunity.
Piper maintains BUY. They believe AAPL’s decision to cut the entry-level price of the iPhone and eliminate revenue sharing with partners is positive. Piper is now more confident in their forecast for 45M iPhone sales in 2009.
However, there is at least one dissent. Gabelli seems to be the only voice of caution today:
Gabelli maintains HOLD. They see the lack of revenue sharing provisions as reflecting decreasing negotiating leverage outside the U.S. and tougher smartphone competition. Gabelli also cites consumer weakness as a short-term worry. Fair enough.
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