UPDATE: Topeka Capital Markets Reiterates Buy Rating on Apple
Topeka Capital Markets reiterates a Buy rating on Apple (NASDAQ: AAPL) and a price target of $1,111.
Topeka Capital Markets notes, “Apple Monitor tracks sales trends across the Taiwan supply chain at leading Apple suppliers that generate a high percentage of revenues from Apple products. We use the Apple Monitor to augment our own checks and research, rather than as a standalone tool, as new product launches and inventory adjustments can sometimes skew monthly results. We estimate 50-60% of sales in the Apple Monitor are derived from Apple. Revenues for the Apple Monitor are shown on an aggregate basis and the individual companies are not disclosed.”
Apple closed at $605.88 on Friday.
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