J.P. Morgan Comments On iAnywhere: Says Could Materially Add To Apple's Profit Over Next Two Years
J.P. Morgan released some comments on Apple (NASDAQ: AAPL) on Tuesday and reiterated its Overweight rating.
Analyst Rod Hall believes the company “is likely to cannibalize its MacBook Air line in the next 12 months and possibly in 2014 by adding a keyboard/mouse centric user interface to iOS while also keeping a touch friendly UI.”
iAnywhere also puts Apple “in position to leapfrog the competition again,” according to Hall. The analyst sees the iAnywhere potentially adding more than 10 percent growth to Apple's profit over the next year or two.
Hall maintains a $585 price target on shares of Apple. With the stock trading up a modest 0.3 percent to $525 at last check, the J.P. Morgan analyst's price target implies potential upside of about 11 percent.
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