Apple Inc. (AAPL) Stock EPS Raised to $7.67 Per Share; Apple Pay Could Be Promising in Australia

Apple's new iPhone 6 and Watch had generally elicited positive reactions around the world after its launch on Sept. 9. Goldman Sachs described the new products as "impressive" and raised the company's stock price target.

According to reports, analysts said in a note to investors that Apple's new products had not disappointed the market's demand for iPhones with bigger screens and a wearable device. Analysts noted that the 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus release brought the most impact to the company's bottom line.

Goldman Sachs predicts Apple's new iPhones will result in sales of 62 million units in the holiday quarter and 205 million units in 2015. Analysts raised its earnings-per-share of Apple stock to $7.67 in 2015 from the previous forecast of $7.57 because Apple did not have the expensive sapphire screens on its iPhones.

Analysts also maintained Apple stock's "Buy" rating and predicted that shares will reach the price of $115 within 12 months. Goldman Sachs price target was previously $107. Analysts believed the iPhones' larger screens will significantly boost Apple's growth in the smartphone segment.

The Apple Watch and Apple Pay are also note-worthy for analysts who remarked that the device expanded the company's platform and attract more customers to Apple's ecosystem. Analysts described the Apple Watch as "surprisingly innovative" but they doubt it will change the company's financial standing.

Rumours of an Apple mobile payment system have been spreading for quite some time. The Apple Pay may possibly disrupt the payments market in Australia. IT Pro's Patrick Crooks thinks Apple Pay holds the key to the country's multi-billion dollar payments market.

Crooks explained that Australia has a well-developed infrastructure for mobile payments. Australian merchants and retailers are using payments innovations as customers are familiar with PayWave and the "tap to pay" option using cards. In contrast, the contactless payments in the U.S. has "struggled" since people are more accustomed to using traditional modes of payment.

Crooks believes Australian businesses and innovators have the opportunity to disrupt the country's payments market. Since Apple will be releasing the NFC application interface to iOS8 developers, Apple Pay is likely to be a promising concept in Australia.

The concept of Apple Pay has been well-received by market analysts as well. Apple has designed it to be customer-friendly while enhancing its security and privacy controls.