Jefferies & Company Reiterates Buy Rating, $900 PT on Apple

In a report published Wednesday, Jefferies & Company reiterated its Buy rating and $900.00 price target on Apple AAPL. Jefferies noted, “After our hands-on experience with the new iPad mini, we believe it will be a top seller this Christmas. Unexpected: refreshed 10" iPad (we expected Mar), refreshed iMacs. Expected: 13" Retina MacBook Pro. The iTunes refresh looks like a CQ1 event. Finally, Apple implied CQ3 iPad shipments of 16M so we are trimming our prior 18M estimate but maintain our well above consensus CQ4 and FY13 estimates.” Apple closed on Tuesday at $634.03.