Apple Inc. continues to benefit from strong iPhone demand even as handset sales are slowing industrywide, according to SIG Susquehanna Financial Group analyst Chris Caso. The analyst raised his current-quarter and September-quarter revenue and earnings per share estimates on Apple and said he now expects Apple to ship 50 million phone units for the three months ending in June, up from a view of 42 million previously. The iPhone 6 momentum should help drive Apple's stock over $150, he said, in spite of weak iPad sales and potential currency headwinds. Caso has a $155 12-month price target on Apple's stock, above the mean target of $147.28, according to a FactSet poll of 40 analysts. Shares of Apple traded up 0.2% to $128.90 in premarket trade. The company's highly-watched Worldwide Developers Conference will kick off later on Monday.
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