Cheaper Apple iPhone: The cheaper Apple Inc. (NASDAQ:AAPL) iPhone discussion is one that simply won’t die down. And you should not expect this to be the case anytime soon, especially since a growing number of analysts are making predictions on if and when this device will come to market.
Apple Inc. (NASDAQ:AAPL) is actually the smart money’s second favorite publicly traded company but hedge funds have started dumping Apple Inc. (NASDAQ:AAPL) in favor of a surprising financial stock (see which stock hedge funds are buying like crazy).
Despite the fact that Apple Inc. (NASDAQ:AAPL) has yet to offer any real details on a more affordable iPhone, this has not stopped consumers and analysts alike from thinking about what it could do for the tech company.
According to Apple Insider, Amit Daryanani of RBC Capital Markets issued a note to investors on Friday in which he discussed this very topic.
To sum things up, Daryanani says he has heard from people that Apple Inc. (NASDAQ:AAPL) has plans to launch “multiple new phones” this summer, likely in June or July. This includes both a new iPhone, the 5S, as well as a cheaper version of the smartphone.
Here is a quote from Daryanani:
“The low-end iPhone will have the same 4-inch form factor as the iPhone 5, but will have a plastic casing and no Retina display. With a lower price point, AAPL will be able to target a growing and important part of the smartphone market (sub-$400 price band).”
He feels that a cheaper iPhone could sell roughly 500 million units in 2014, which could help the company “capture more than 15 percent of that market in the medium term.”
At this time, RBC Capital Markets has a price target of $600 on Apple Inc. (NASDAQ:AAPL).
With so many rumors floating around, who knows who to believe? What do you think about this information from Daryanani? Share your comments below.
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DISCLOSURE: I have no positions in any stock mentioned.
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