Susquehanna Starts Apple (AAPL) at Positive, Citing Significant Growth Potential
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Susquehanna said Apple continues to have significant growth potential, including expanded market share in the Smartphone market and above-market growth in its Mac PC business.
The firm said near-term growth drivers could include:
- rolling out the iPhone into new key markets, such as China;
- building out the iPhone ecosystem with a broader portfolio of segmented products (e.g., iPhone Pro); and
- developing new and innovative mobile devices, including scaling up the iPod Touch platform
Concerns the firm cited on Apple are the ongoing economic malaise and a challenging consumer spending environment. They note consumer represents about 75% of total revenue. That being said, the firm said Apple's differentiated products have demonstrated to be more resilient than the overall market.
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