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Apple Price Target Raised from $615 to $700

Apple Inc's price target has been raised to $700 based on the speculation of a bigger-screened iPhone 6 and the introduction of a new smartwatch product. Berinstein Research moved the price target from $615 to $700 because they think that many Android users who value larger screens might switch to the new iPhone instead. 

A bigger screen iPhone could potentially lead to a higher price point which would do its part to stabilize gross margins and increase revenue. We've also heard from Tim Cook that Apple plans to reveal a new product category before the end of the year, many believe that to be the iWatch. Apple's major developer conference will be held sometime next week.