NEW YORK (Reuters) – The stock of technology giant Apple Inc could increase another 10 percent in six months because of growth in its service divisions and buzz around a new iPhone model, Barron’s wrote in an article posted Saturday.
The business and investing publication cited offerings such as AppleCare, iTunes and iCloud in noting that the “company’s high-margin services revenue probably will continue to race quietly higher.”
“As high-margin services grow, Apple could earn a higher valuation. And shares could hit $155 on iPhone,” Barron’s wrote.
The stock trades around $140 now, up more than 20 percent in 2017.
(Reporting by Lawrence Delevingne; Editing by Phil Berlowitz)
Republished with permission from Reuters