On Tuesday morning, Cowen & Company analyst Timothy Arcuri made a somewhat logical projection with regard to Apple's eagerly awaited iPhone upgrade.
The analyst believes the iPhone 6 will usher in the biggest iPhone upgrade cycle we've seen in recent years.
"We still see evidence of both Gorilla Glass and Sapphire for 4.7-inch version but feel at least one (if not all) versions of larger 5.5-inch version will be Sapphire," he asserted in a note shared with investors this morning. "Although pricing should be 'tiered,' margins remain a much bigger question to us than iPhone 5S/5C launch which was clearly good margins."
By finally addressing the product preferences of the 30 to 40 percent of consumers who like larger screens, the analyst thinks iPhone 6 adoption could be more aggressive than previously anticipated. Consequently, Arcuri has upped his AAPL price target to $102 (up from $90) and held steadfast to an Outperform rating.
Arcuri is "very bullish on units" when discussing both iPhone 6 sales and potentially sales of a yet to be announced wearable device (the iWatch, for example). Particularly exciting, Arcuri suggests, is the iPhone's growth potential on a global landscape.
Source: Benziga
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