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fmikehugo

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fmikehugo

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Monday, 01/29/2007 9:20:04 AM

Monday, January 29, 2007 9:20:04 AM

Post# of 147300
08:30 AAPL Apple tgt increase details (85.38 ) -Update-

As mentioned at 8:05, Needham raised their tgt to $135 from $115 based on the iPhone. The firm thinks initial sales of the iPhone are likely to be modest because of its high price, but they think its price is likely to fall at a 20% annual rate in line with the decline in component costs and rising carrier subsidies.

They think the decline in price should accelerate demand as the iPhone invades the sweet spot of the mobile phone market. With carrier subsidies, the iPhone should sell for around $75 in the final year of their forecast. They are forecasting sales of 135 mln iPhones in 2016, equivalent to a 7% market share.
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