Wells Fargo Securities Reiterates Outperform Rating on Apple on Strong Portfolio Heading into Holiday Season

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

. In the report, Wells Fargo Securities noted, “Apple's iPad mini, iPad Air, MacBook Pro, and Mac Pro announcements, while largely as expected, gives it a strong portfolio heading into the holiday season with more attractive price points. The surprise, to us, was the free upgrade to OS X Mavericks and free iLife and iWork suites for new iOS and Mac purchases. In our opinion, this signals a shifting ecosystem battle to drive more usage, which, in turn, should result in greater ecosystem loyalty – a tradeoff we see as logical to distance itself from competing ecosystems. Collaboration capabilities may also help to drive “halo effect” sales over time (in order to utilize all the features and functionality). See table for pricing and spec summaries.” Apple closed on Tuesday at $519.95.