Why UBS Just Cranked Up Its Apple Target To $675

tim cook apple

Photo: Screenshot of Apple keynote

It’s another day ending in “-day” so another analyst has cranked up their price target on Apple.This time it’s Maynard Um at UBS, putting a price target of $675 on the stock. That’s up from the previous target of $550 billion.

The reasons?

  • They expect the iPhone 5 to launch in October, and that it will accelerate the number of carrier partners it sells through, making it the “biggest launch ever.”
  • New billing practices by carriers that allow customers to buy data packages that work across multiple devices will encourage customers to buy higher-end iPads.
  • Improved iPhone expectations are causing a hike in 2013 EPS expectations to $50.43.
  • The multiple will expand due to big product launches and possible return of cash to shareholders.

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