Apple (AAPL) Bucks China Smarthphone Decline, Sees Sharp Rebound in August - Evercore ISI

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $130 price target on Apple (NASDAQ: AAPL), noting that while China smartphone shipments declined in August, Apple's shipments were up.

Daryanani notes that MNC (read Apple) shipments were up 28%, versus the broader market which fell 14% in the month.

The analyst said the "very strong" month nearly offsets the weak July.

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 $115.14 yesterday.

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