Apple poised to beat iPhone ASP estimates: analyst

Apple Inc. shares were little changed in premarket trading Friday after analysts at Mizuho predicted that the company would beat average selling price estimates for the latest quarter when it reports results Feb. 1. “IPhone ASP expectations seem very low,” wrote Mizuho’s Abhey Lamba, who predicts an average selling price of between $780 and $790 for the device, above consensus estimates for $752. His prediction for 80 million to 81 million iPhone units sold during the December quarter also implies upside to consensus figures. “We continue to see healthy upgrade activity within the installed base which, along with better services contribution, should help the company perform,” Lamba wrote. He raised his price target on Apple shares to $175 from $160 but kept his neutral rating on the stock. Apple shares are up 50% over the past 12 months, while the Dow Jones Industrial Average is up 32%.

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