3 Votes of Confidence for Apple Inc. (AAPL)

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Last, but not least
Raymond James analyst Tavis McCourt has the same rating and price target as Garcha: outperform, and $600. McCourt echoes the other two analysts in the sense that he expects a third-quarter launch of the presumed iPhone 5S, which should translate into a big boost in unit shipments. Since Apple Inc. (NASDAQ:AAPL) rumors are now widely publicized, consumer delays can be expected ahead of the next iPhone launch.

The analyst tweaked his estimates for this year, with his revenue estimate down slightly and earnings expected to come in higher.

McCourt is still confident that Apple Inc. (NASDAQ:AAPL) can grow the iPhone business, despite its current size. The iPhone has much larger ecosystem advantages in the smartphone market than the Mac has in the PC market, which will help it sustain continued growth.

The article 3 Votes of Confidence for Apple originally appeared on Fool.com.

Fool contributor Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple.

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