Conflicting with other analysts, Nomura said:
"8:27 EST - Nomura, which has had a neutral rating on Apple (AAPL) since starting coverage in October, catches up to the stock's fall swoon in cutting its price target to $530 from $660
and lowering estimates through 2015. That as the investment bank says, "iPhone gross margins and [average selling prices] are unsustainably high." It estimates iPhone margins were recently at 55% while 40% is "the historic peak for mobile-phone vendors." Nomura also sees little near-term that could boost AAPL shares, down 29% the past 4 months. "Launch of iPhone 5S or iPad mini with Retina display could be positive, but seems unlikely to materially boost demand." AAPL, after falling 3.6% Monday amid iPhone 5 concerns, is fractionally higher premarket at $502.66."
So, price estimates are all over the place, from $530 to $800.