Apple (AAPL): Samsung Weakness May Not Aid Apple - Nomura

October 17, 2016 8:51 AM EDT
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Price: $120.00 +0.18%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

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Nomura Securities analyst, Jeffrey Kvaal, reiterated his Buy rating on shares of Apple (NASDAQ: AAPL) and his price target of $135 but thinks Samsung's missteps are not likely to have a materially positive impact on iPhone units.

The analyst notes that Samsung’s battery challenges with its newest Note phone (worst-case scenario of 28mn total phones) does not directly translate into a material benefit. His checks indicate that to date, the 80-90% of consumers returning GN7s have opted to stay within the Samsung family implying that the unit bump may be negligible.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $117.63 yesterday.

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