Many major financial institutions have put Apple on its strong "buy" list ahead of the 3G iPhone announcement and launch. According to Reuters reports Goldman Sachs added Apple Inc. to its Americas conviction buy list, saying shares will likely benefit from the launch of the company's third-generation iPhone next month, as well as from the sharply higher projections of iPhone sales for the second-half of the year.
Analyst David Bailey also raised his target on the stock to $220, and said Apple should be able to increase its available iPhone subscriber base by more than 80 percent this year due to aggressive expansion into international markets. Bailey, who rates the stock "buy," expects iPhone unit shipments to increase to 11 million in 2008 from 3.7 million in 2007.
Apple has signed deals to bring the iPhone to Singapore, India, Australia and the Philippines this year. Earlier this month, an Apple spokeswoman said the iPhone would make its debut in those countries "later this year," but declined to comment on plans to bring the iPhone to Japan and China.
On Friday, theflyonthewall.com reported that Merrill Lynch had raised its price target on Apple stock to $215 from $186, and maintained its "buy" rating.
Boy, we sure hope that Apple will announce and release the 3G iPhone this summer. Or the sky might fall!