Apple (AAPL) iPhone '4C' is an Option, Says Analyst

September 16, 2013 9:25 AM EDT
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A number of investors and analysts on Wall Street were disappointed with the high price of Apple's (Nasdaq: AAPL) iPhone 5C. However, in the view of analyst Toni Sacconaghi of Bernstein, Apple may take another shot at a low priced iPhone by offering an iPhone "4C."

Sacconaghi thinks Apple has a number of options to "de-spec" the iPhone 5C or iPhone 4 to achieve a price below $400. For example, a phone could have the internals of an iPhone 4 but come in an iPhone 5C case.

Bernstein has an Outperform rating on Apple with a price target of $600.

For an analyst ratings summary and ratings history on Apple (NASDAQ: AAPL)click here. For more ratings news on Apple click here.

Shares of Apple closed at $464.90 last Fridsay, with a 52 week range of $385.10 to $705.07.

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