Apple (AAPL): Deutsche Bank Checks Show Robust Demand for iPad Air and iPhone 5S

November 5, 2013 11:01 AM EST
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Deutsche Bank maintained a Buy rating on Apple (NASDAQ: AAPL) with a price target of $575.00. Checks by analyst Chris Whitmore showed robust demand for iPad Air and iPhone 5S.

"Our checks indicate that the channel was well-stocked for the iPad Air, with only the 128GB version consistently stocked out. Surprising strength at the high-end of the product line is an incremental positive for iPad ASPs and margins (i.e. 128GB iPad has better margin profile than lower capacity versions). Strong initial demand for the high capacity version may also suggest users are increasingly utilizing the iPad Air as a notebook substitute," said Whitmore.

"iPhone 5S demand remains robust with demand outstripping supply in all of our carrier online and retail checks. Although the lead times have improved modestly over the last few weeks, Apple's online stores currently quote a 2-3 week lead-time for all colors of the iPhone 5S. Further, the gold version remains the most sought after color with considerably higher lead times," he added.

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 $526.75 yesterday.

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