Strong global demand for Apple’s iPhone 6 will drive revenue growth through 2015, while updated models should help reverse three straight quarters of declining iPad sales, analysts said.
The company posted better-than-expected revenue on Monday on the back of a record iPhone launch that saw 39 million of the smartphones sold in the September quarter.
“We expect this momentum to continue in the December quarter and into 2015, particularly as supply improves steadily in coming months,” Goldman Sachs analysts wrote in a note to clients.
Goldman raised its price target on the stock by US$9 to $124, above a mean price target of $112.02, based on 51 brokerages covered by Thomson Reuters StarMine data.
At least 10 other brokerages raised their price targets on the stock by between $1 and $20.
Orders for Apple’s new iPhone 6, which comes in larger sizes and a heftier price tag, began in September.
“(We) were encouraged by Tim Cook’s comments regarding Apple basically selling every iPhone 6/6 Plus it can produce and will likely remain undersupplied relative to demand through the end of 2014,” Canaccord Genuity analysts said in a note to clients.
They said Apple was not expected to catch up with demand until early next year.
Apple posted its strongest growth in Mac computer shipments in years during the September quarter, even as sales of its iPad, which helped launch the mainstream tablet market in 2010, slid for a third consecutive quarter.
"Still, we believe Apple will reverse the trend on the iPad with its recent product refresh and also believe that the Mac product line will continue to gain market share against its PC rivals," analysts at William Blair said.
Apple, last week launched it’s faster and slimmer iPad Air 2 with a fingerprint sensor, hoping to attract consumers for the holiday shopping season.
According to StarMine data, 16 analysts rate the stock “strong buy,” 25 rate it a “buy,” nine rate it a “hold,” and just one analyst rates it a “sell.”
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KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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Saturday's schedule at the Abu Dhabi Grand Prix
GP3 race, 12:30pm
Formula 1 final practice, 2pm
Formula 1 qualifying, 5pm
Formula 2 race, 6:40pm
Performance: Sam Smith
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'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
FORSPOKEN
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Diablo%20IV
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The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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Starfield
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
UAE%20Warriors%20fight%20card
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RESULTS
6.30pm Al Maktoum Challenge Round-2 – Group 1 (PA) $49,000 (Dirt) 1,900m
Winner RB Frynchh Dude, Pat Cosgrave (jockey), Helal Al Alawi (trainer)
7.05pm Al Bastakiya Trial – Conditions (TB) $50,000 (D) 1,900m
Winner El Patriota, Vagner Leal, Antonio Cintra
7.40pm Zabeel Turf – Listed (TB) $88,000 (Turf) 2,000m
Winner Ya Hayati, Mickael Barzalona, Charlie Appleby
8.15pm Cape Verdi – Group 2 (TB) $163,000 (T) 1,600m
Winner Althiqa, James Doyle, Charlie Appleby
8.50pm UAE 1000 Guineas – Listed (TB) $125,000 (D) 1,600m
Winner Soft Whisper, Frankie Dettori, Saeed bin Suroor
9.25pm Handicap (TB) $68,000 (T) 1,600m
Winner Bedouin’s Story, Frankie Dettori, Saeed bin Suroor
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Match info
Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
Maratha Arabians 89-2
Chadwick Walton 51 not out
Arabians won the final by eight wickets
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
A list of the animal rescue organisations in the UAE
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
