. Sales of Apple's popular iPhone line of smartphones will continue to decline until the next-generation model launches later this year according to one analyst. Mike Walkley of Canaccord Genuity on Thursday raised his price target on shares of Apple stock to $740, reiterating a Buy rating. Walkley believes that Apple will post strong results for the second fiscal quarter ended in March, however he lowered his EPS estimates for fiscal 2012 to $43.13 from $44.58. Read on for more.
“Our recent channel checks indicate modestly slowing iPhone 4S sell-through trends in developed markets,” Walkley wrote.
Boy Genius Report, iPhone sales to continue declining until ‘iPhone 5′ launch, Canaccord says
