has been a controversial stock to market participants after severely underperforming the broader market in 2013. Even as investors like Carl Icahn pile into the stock, sustained momentum has been rare for the company's shares. One catalyst bulls are pointing to is the launch of iPhone 6. Apple has made no official announcement when iPhone 6 will be launched, but analysts and market pundits are speculating a mid to late Summer release. Famous market pundit Doug Kass Tweet'ed the following Wednesday morning:
High above the Alps my Gnome is hearing that the iPhone 6 launch will be this Summer. $AAPL— Douglas Kass (@DougKass) March 5, 2014
Peter Misek, analyst at Jefferies, believes modifications to “the camera module processor and potentially a new co-processor alongside the M7 for biometrics and sensors related to health” will likely push an iPhone 6 release to “late summer.” Misek, who has a Buy rating and $625 price target on Apple, believes the iPhone 6 launch will be successful because of “pent-up demand for a larger iPhone and possibly less intense competition from Samsung.” CarPlay is also giving Apple bulls some excitement. The technology is “an in-car infotainment system that allows iPhone users to make calls, access maps, message, and listen to music,” says Misek. Apple has 15 auto manufacturer partners including Volvo, Ferrari, and Mercedes-Benz. Misek believes CarPlay is “likely the beginning of Apple's involvement in the Internet of Things.” Apple's user ecosystem has been marveled at by competitors and investors alike, but products like CarPlay, iWatch, and other wearables may even further “strengthen Apple's ecosystem,” says Misek. The Jefferies analyst was also “unimpressed” with competitor wearable products at Mobile World Congress and believes Apple can “quickly gain share.” Shares of Apple closed up a modest 0.30 percent to $532.85 on Wednesday. Misek's $625 price target is a 17 percent above Wednesday's closing price.
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