In a note to clients — as reported by “American Banking & Markets” (http://macte.ch/fgFhR) — equities research analysts at Crowell, Weedon & Co. upped their price target on shares of Apple from US$710 to $770. The firm currently has a “buy” rating on the stock.
Crowell, Weedon & Co. expects a sequential decline in iPhone unit sales as the launch of the iPhone 4S in most international markets, and build-up of channel inventory are completed. However, the firm estimates sequential growth in both iPad (a full quarter of the new iPad and adding international markets) and Macs (better industry demand, international growth, and better availability of hard disk drives).