One of the first analysts to to turn bearish on Apple last year, correctly predicting lower-than-expected revenues, has upgraded the stock to a Buy, giving it a 12-month target price of $540 against a closing yesterday of $428.35. BTIG analyst Walter Piecyk is cited in Business Insider as suggesting that Apple's earnings per share will be flat or slightly down this year but will climb in 2014. He bases the potential growth on four factors: Apple will release a cheaper iPhone, carrier upgrade policies will make it easier for users to buy new iPhones, a new product will come out, and Apple will do something with its cash. However, he also warns that Apple could miss analysts expectati
