Jefferies Maintains Buy Rating and $500 PT on Apple

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A report from Jefferies reiterates its Buy rating and $500 price target on Apple
AAPL
. The report states, “Based on channel checks and our recent visit to Japan we believe that Sharp is taking share in iPad 3, iPhone 5 LTE, and iTV displays. Also, we believe the Samsung relationship continues to deteriorate. We still see CQ4 iPad shipments above consensus but cut our estimate from 17M to 14M (St 13M). We see a strong CY12 product cycle (iPhone 5, iPad 3, iTV)” AAPL closed yesterday at $369.01.
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Posted In: Analyst ColorReiterationPre-Market OutlookAnalyst RatingsJefferies & Company
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