VIDEO: Apple Payments Service May Boost Sales Of Larger IPhones

10 Sep

The addition of a mobile payments service to Apple’s next iPhone could help to boost sales of the larger-screen phones and claw back market share lost to mobiles running on Google’s Android platform. At least six brokerages raised their price target on Apple’s stock by as much as $16 to a high of $116 on Wednesday, a day after the launch of the iPhone 6 and the Apple Watch – the first new product introduced by Chief Executive Tim Cook. Piper Jaffray analyst Gene Munster said the “star of the show” was Apple Pay – the company’s new wireless payment system. It will allow iPhone 6 and 6 Plus users to pay for a burger at McDonald’s Corp or groceries at Whole Foods Market at the tap of a button, using their American Express, Visa or Mastercard bank cards.

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