Apple iPhone 6 might arrive with a bigger, 4.8" display
“Despite still seeing risk to CQ4 and FY13 revs, we now believe better [gross margins] will allow Apple to skate by until iPhone 6 launches with its 4.8″ screen,” Misek wrote in a note. ”We est ~50% of smartphone shipments have >4″ screens and that iPhone 6 will catalyze a large upgrade cycle. The stock is attractive based on the attitude change, FY15 revs >+15%, and valuation.”
Misek previously issues a Hold rating on Apple stock, and is now once again bullish, giving Apple shares a Buy rating and raising his target for the stock to $600.
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