Posted by: Lauren Young on October 2, 2009
Maynard Um, a UBS tech analyst, upgraded Apple from neutral to buy on Oct. 2. Um’s new price target is $265, up from $170. His reasons include the stickiness of the Apple store along with new strategic partnerships.
But what caught my eye is this interesting point: the iPhone is gaining traction in the corporate world with 19 of the biggest 100 companies using iPhones. Um does not think iPhones will displace Research in Motion’s (RIMM) ubiquitous BlackBerry, “but, rather, believe it is likely at the expense of other Microsoft Exchange capable smartphones,” he says.
In order for Apple to gain greater traction in the enterprise market, in our opinion, the company must overcome some issues including providing 24x7 customer support, providing more future product roadmap details (to allow large enterprises to build ahead and prepare), provide alternatives to OS upgrades solely from iTunes desktop application.
What do you think? Can the iPhone make the transition from consumers to corporations? If so (or not), what does it mean for Apple?