Cantor Says Apple In 'Super Cycle;' TV Set On Its Way

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Apple Inc.
AAPL
shares continued on an upward trajectory Monday, rising slightly after last weeks' media blitz on the company's new products. Analysts continued to churn out purple prose, with Cantor Fitzgerald's Brian White suggesting that Apple is s "in the midst of another 'super cycle' " starting with the sales launch of new iPhone models and continuing with its Apple Watch next year. White, who as an analyst at Topeka in 2012 thought Apple shares would rise to $1,001 a share, http://www.cnbc.com/id/48082206 said Monday the Apple Watch "will prove to be a home run." White also said Monday that Apple is closer to launching a new Apple television, although White predicted more than a year ago the TV product would launch in 2013. http://bigstory.ap.org/article/analyst-60-inch-apple-itv-launch-year White on Monday reiterated a Buy rating on Apple and a $123 target. For its part Apple on Monday announced what it called "record" first day pre-orders of iPhone 6 and iPhone 6 Plus devices, with more than four million in the first 24 hours. Still, New York Times media columnist David Carr wrote Monday that apart from "showmanship and hype," Apple has launched two "very expensive phones that catch up with consumers' preference for larger screens." Apple also unveiled a smartwatch well after competitors launched similar products, "and a payment system that will need buy-in from retailers" in the wake of multiple high-profile data breaches, Carr wrote. Apple traded recently at $101.80 a share, up 0.14 percent.
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