Sales of Apple's iPhone 5S have been impressive so far, but an iPhone 6 next year will likely give the company an even bigger boost, according to an analyst report.
Apple's iPhone 6 will likely be larger than the current models, featuring a display screen that is 4.8-inches, which will prompt more people who are available for an upgrade to purchase the device, said Peter Misek, an equity analyst at Jefferies, in a note. The latest models are 4-inches.
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"Also the ecosystem is excited about the iPhone 6, which we feel is warranted. We think the stock will appreciate ahead of the iPhone 6 launch," he said in his note.
Misek, who recently returned from a trip to Asia where he met with Apple's suppliers, increased his price target for Apple from $425 to $600 and increased his rating for the stock to buy from hold.
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