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.