Needham & Company Maintains a 'Buy' on Apple (AAPL); When Is An iPhone Not An iPhone?

Needham & Company maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $450.
Needham analyst says, "Apple faces a major challenge in designing an iPhone that’s still an iPhone for prepaid emerging markets...It’s clear that if Apple wants to target the entire smartphone market, including the prepaid segment, the company must design an iPhone that’s much cheaper than the current version...What’s unclear is how Apple will accomplish this. By removing components and/or reducing the iPhone’s size, the company might be able to build an iPhone that targets these markets. But in doing so, it runs the risk of destroying the iconic value of the device and its brand equity."

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $338.89 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• KeyBanc Reiterates Underweight Rating on Apple (AAPL)
• Apple In Coming Months To Launch Suite Of AI Tools In China-sources - Reuters
• NANO Nuclear Announces Participation in Several Investor Conferences