Wells Fargo Reiterates Outperform on Apple on Positive Outlook

In a report published Tuesday, Wells Fargo Securities analyst Maynard Um reiterated an Outperform rating on

. In the report, Wells Fargo Securities noted, “We expect easier year over year compares, potential positive supply chain data into the next product cycle, and improving gross margin likelihood to help reaccelerate earnings and see the company as well-positioned to continue to take value share in its core smartphone, tablet, and PC markets.” Apple closed on Monday at $487.75.