Fidelity portfolio manager: Apple’s future hinges on how innovative the new iPhone is

Sonu Kalra, a portfolio manager with Fidelity’s Blue Chip Growth Fund, spoke to Henry Blodget about Apple, and whether the company’s stock can hit $200 a share. He thinks it’ll boil down to whether the new iPhone will be innovative or not, and whether it’ll be enough to convince people to pay a higher price. Kalra says that, at some point in the next 5-10, Apple will need to look for new products, it’s not quite so reliant on the iPhone.