Apple (AAPL): Wells Fargo Says Warning From China Central TV 'Bears Watching'

Wells Fargo maintained a Market Perform rating on Apple (NASDAQ: AAPL) with a price target of $86-$96. Analyst Maynard Um discussed reports earlier this month involving China Central TV, China's influential state broadcaster. The broadcast station warned that the frequent locations function on Apple's iOS 7 was a national security concern.

In Um's view, the development bears watching "as China Central TV has had significant influence on a number of companies previously."

The report goes on to list foreign companies that were negatively impacted by the broadcaster, including Nikon, Volkswagen, Yum!, and HP.

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 $93.94 yesterday.

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