Munster Sees Lower-Priced iPhone Selling at $149-199, Says Device Could Add $6.5B in '13 Sales for Apple
Responding to a WSJ report from Tuesday evening which suggest Apple (NASDAQ: AAPL) could be working o n a cheaper-priced iPhone model, Piper Jaffray's Gene Munster said Wednesday morning the range would likely be between $149 and $199 without a contract.
Munster predicts the lower-priced model could carry around 30 percent gross margin. The analyst is modeling for a cheaper iPhone to add about $6.5 billion in sales over the course of 2013. Munster sees 30 basis points of gross margin dilution related to such a device.
Piper Jaffray currently has an Overweight rating and $900 price target on shares of Apple.
Latest Ratings for AAPL
|Oct 2016||Goldman Sachs||Maintains||Buy|
|Oct 2016||Credit Suisse||Maintains||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.