UPDATE: Topeka Capital Markets Reiterates Apple at Buy with $1111 PT on Next iPhone Thoughts

Topeka Capital Markets reiterated its Buy rating and $1111 price target on Apple

. Topeka Capital Markets said, "Our checks are pointing to more choices on the way with the next iPhone with expanded color options and screen sizes. By providing customers with greater choices with the same high quality performance of the iPhone, we believe Apple has the potential to further expand its market share in the rapidly expanding smartphone world." Apple closed at $532.17 on Monday.