Apple Share Target Price Raised to US$135

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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.

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