Apple Inc. (NASDAQ:AAPL) and Cisco Systems, Inc. (NASDAQ:CSCO) announced a partnership to create a fast lane for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone® with Cisco enterprise environments and providing unique collaboration on iPhone and iPad®.

“iOS is the world’s best mobile platform, and nearly every Fortune 500 and Global 500 company today has put iOS at the center of their mobile strategy,” said Tim Cook, Apple’s CEO. “iPhone and iPad have become essential tools for the modern workforce and are changing the way work gets done. Together with Cisco, we believe we can give businesses the tools to maximize the potential of iOS and help employees become even more productive using the devices they already love.”

“Ninety-five percent of companies in the Fortune 500 count on Cisco Collaboration and Cisco networks to help their teams be more productive,” said Cisco Executive Chairman John Chambers. “Through this engineering and go-to-market partnership, we’re offering our joint customers the ability to seamlessly extend that awesome Cisco environment to their favorite iOS devices. Together, we’re going to help teams achieve higher levels of productivity and effectiveness.”

To address the ever-increasing demands on corporate infrastructure, Cisco networks and iOS devices will be optimized so that they work together more efficiently and reliably with the goal of providing users with even greater performance.

Apple and Cisco are also working together to make iPhone an even better business collaboration tool in Cisco voice and video environments, with the goal of providing employees with a seamless experience between iPhone and their desk phone.

With Apple’s support, Cisco will deliver experiences specially optimized for iOS across mobile, cloud, and premises-based collaboration tools such as Cisco Spark, Cisco Telepresence and Cisco WebEx in order to deliver seamless team collaboration and reinvent the meeting experience. (Original Source)

Shares of Apple opened today at $112.03 and are currently trading up at $113.4799. AAPL has a 1-year high of $134.54 and a 1-year low of $92. The stock’s 50-day moving average is $118.43 and its 200-day moving average is $124.48.

On the ratings front, Apple has been the subject of a number of recent research reports. In a report released today, Piper Jaffray analyst Gene Munster maintained a Buy rating on AAPL, with a price target of $172, which represents a potential upside of 53.5% from where the stock is currently trading. Separately, on the same day, Brean Murray Carret’s Ananda Baruah maintained a Buy rating on the stock and has a price target of $170.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gene Munster and Ananda Baruah have a total average return of 21.5% and -3.0% respectively. Munster has a success rate of 61.9% and is ranked #5 out of 3743 analysts, while Baruah has a success rate of 43.8% and is ranked #3396.

The street is mostly Bullish on AAPL stock. Out of 41 analysts who cover the stock, 28 suggest a Buy rating , 11 suggest a Hold and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $151.32, which implies an upside of 35.1% from current levels.