Stifel Optimistic On Apple's 'Ramp' Of China Mobile & iPhone 6 Launch

In a report published yesterday, Stifel analyst Aaron Rakers raised the price target on

from $93.00 to $110.00 following the company's announcement of a 7-for-1 stock split. To reflect the new shares outstanding, Rakers updated his model. The analyst sees an upside to the December quarter due to the company's "ramp" of China mobile and 2HC2014 iPhone 6 launch. Stifel reminds investors of risks including, “(1) Reinventing product momentum - can Apple sustain current level of product innovation?; (2) Emerging competition for iPad and MacBook Air; (3) Wireless carriers looking to push back on iPhone subsidies; (4) Slowdown in Chinese growth impacting expanding operations in the country; (5) Legal disputes (e.g. Samsung tablet litigation); and (6) Execution missteps.” Shares of Apple closed at $92.22.