- The market is set to shift focus from hardware growth to installed base monetization and recurring revenue, says analyst Simona Jankowski, upgrading Apple (NASDAQ:AAPL) to Conviction Buy with $163 price target (43% above yesterday's close).
- The company has a significant opportunity over the next few years to increase the monetization potential from its 500M iPhone user base, she says, also noting the stock is trading at a 30% discount to the S&P 500 multiple.
- Shares +1.6% premarket to $115.45.