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Apple Rising: Samsung ‘Note 7? Collapse Means Another 8M iPhone 7 Sales, Says Drexel

Samsung Electronics’s (005930KS) pain with its "Note 7" — it first said it would stop making them, temporarily, and subsequently said it would permanently stop production of the device — continues to be Apple’s (AAPL) gain, according to Drexel Hamilton’s Brian White. White, who has a Buy rating on Apple shares, and a $185 price target, thinks Apple could pick up 8 million more units of iPhone sales before this calendar year is out, thanks to the Note 7’s collapse: With original market expectations for approximately 10-14 million Galaxy Note 7 units in H2:2016 (availability began on August 19), we believe Apple has an opportunity to pick up at least 8 million incremental units in CY:16.
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