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Apple Share Target Price Raised to US$135
by , 4:30 PM EST, January 29th, 2007
Analyst Charles Wolf of Needham & Co raised the Apple share target price from US$115 to US$135 on Monday on the strength of anticipated iPhone sales. The story was published at Macworld UK.
"There’s about a 20 per cent chance that Apple will sell at least 20 million iPhones in 2008," Mr. Wolf said in a note to clients. "To provide some perspective, Apple sold 40 million iPods at an average price of $200 in fiscal 2006."
Mr. Wolf also predicted that the iPhone price would fall at an annual rate of 20 percent and that there would be rising carrier subsidies.
Observer Comments
These analysts all have the subsidies wrong. Apple will not allow the iPhone to be sold for a price lower than the value of the embedded iPod (at least not until iPhone sales become so stellar that revenue from the iPod becomes irrelevant to Apple). Furthermore, subsidies will not be needed to sell the iPhone. Apple is changing the way phones are sold in the US (thank God).
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