Credit Suisse Reiterates On Apple

On Friday, Credit Suisse analysts reiterated the Neutral rating and $110 price target on shares of Apple Inc. AAPL.

On Thursday, Apple presented its next generation 9.7-inch iPad Air 2, iPad Mini 3, and 27-inch iMac with Retina 5K display. In addition, the company announced that Apple Pay will be launched on October 20.

Kulbinder Garcha feels the new products sustain Apple's advantage across the computing market, but does not think the new iPad will stimulate growth.

Garcha finds iPhone sales remains key, "As we discussed in our recent note The "Upgrade" Within the Upgrade Cycle, we believe that specifically the iPhone business remains key (64% of gross profits). Here we believe a combination of volume growth, improved memory mix and shift to iPhone 6 plus will trigger material EPS momentum over the next six months."

Shares of Apple Inc. recently traded at $97.52, up 1.33 percent.