Apple needs a low-cost iPhone, says analyst
Apple needs to launch a low-cost iPhone to boost earnings and market share, says BTIG analyst Walter Piecyk.
In an investors note out today, Piecyk said he raised his opinion on Apple stock to "buy" from "neutral" based partly on the assumption that a low-cost iPhone will launch before the year is over.
The analyst's crystal ball sees around 36.5 million such iPhones sold in fiscal 2014 at an average non-subsidized price of $300. Assuming that projection comes true, the lower-cost iPhone could add $11 billion in revenue to Apple's next fiscal year, … Read more