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Mobile Tech

Analyst: Lower-end iPhone Would Have To Te A ‘Category-killer’

RBC Capital analyst, Mike Abramsky, told clients in a note that, after a meeting with two of Apple’s top executives, RBC Capital Markets, the company’s major requirement for launching a lower-end iPhone is whether the handset would offer an “innovative, category-killer experience.”

Abramsky recently has a meeting with Apple Chief Operating Officer Tim Cook and Chief Financial Officer Peter Oppenheimer. “Apple’s primary criterion for launching a lower-end iPhone is an innovative, category-killer experience,” he says.

Abramsky also noted that iCloud is probable to be ready for “significant scale,” with Apple having learned its lesson from the MobileMe service. RBC maintains a price target of $500 for shares of Apple stock, reiterating its Outperform rating for the company.

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