Apple (AAPL): Samsung Weakness May Not Aid Apple - Nomura
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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.
Shares of Apple closed at $117.63 yesterday.
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