Apple (AAPL) Revenue Growth Rate Reaccelerating

With Apple (AAPL) shares making new highs, Robert Cihra of Evercore ISI, explains why he expects major revenue growth for the iPhone maker in fiscal 2015 and beyond. Cihra believes [via AI] Apple’s revenue growth will re-accelerate next year, growing 15% year over year. In a note to investors released on Thursday morning, the analyst lifted his price target on Cupertino’s shares from $125 to $135 saying you have a company generating $200 billion in revs that’s going to grow faster next year. Of that growth, Cihra believes about 90% will be iPhone driven.

Shares of Apple gained 1.62% to $116.51 in recent trading. In the past 52 weeks, the name has traded between a low of $70.51 and a high of $117.28. Shares are up 57.75% year-over-year, and 46.10% year-to-date.

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