Citi Reiterates a 'Buy' on Apple (AAPL)
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Citi reiterates a 'Buy' on Apple (Nasdaq: AAPL). Price target $170.
Citi analyst says, "—It is now clear why Apple mgmt was cautious on FY09 gross margin in July: with the introduction of new MacBooks, Apple’s highest volume PC now dons an Aluminum exterior. However, with Al prices down 32% from July’s peak and no major cut to MacBook prices, we are even more confident in Apple’s ability to meet or exceed our 4CQ08 ests and consensus."
Apple Inc. designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions.
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