Warwick Ventures Keeping an Eye on Rising Apple Inc. Stock

PR Log (Press Release) – Oct 05, 2009 – Taking cues from analyst experts, Warwick Ventures is keeping an eye on Apple Inc. UBS has upgraded Apple Inc to "buy" from "neutral" and raised its price target on the stock by 56 percent and its iPhone estimates for fiscal 2010 by 39 percent. Separately, Morgan Stanley raised its price target on Apple stock to $210 from $200, saying it sees broader distribution as the most significant near-term catalyst for iPhone units
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UBS expects the growing installed base of iPhone users, combined with the stickiness of the App Store, to drive a recurring hardware revenue stream. Continued iPhone expansion driven by new partnerships are also expected to help iPhone hardware revenue, a Warwick Ventures analyst said, and raised the price target on Apple stock to $265 from $170, citing a UBS report.

Warwick Ventures expects Apple to post a strong quarter with potential upside to Street estimates and believes the December quarter should also see strong growth helped by seasonality and operator competition in some regions. Shares of Cupertino, California-based Apple were up 69 cents at $181.55 in trading before the bell. They closed at $180.86 Thursday on Nasdaq.