Canaccord Genuity Reiterates a 'Buy/Top Pick' on Apple (AAPL); Continue Anticipating Strong Growth Despite Jobs Resignation

Canaccord Genuity reiterates a 'Buy/Top Pick' on Apple (NASDAQ: AAPL) price target of $515.00.

Canaccord analyst, T. Michael Walkley, said, "Steve Jobs resigned as CEO in an open letter to the Apple board of directors and employee base, and he recommended Tim Cook, previously COO, as his replacement. Subsequently, Apple’s Board named Jobs chairman and Tim Cook new CEO. We continue to anticipate strong earnings growth for Apple over the next several years with very strong demand and relatively low global market penetration for iPhone, iPad and Mac products."

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

Shares of Apple closed at $376.18 yesterday.

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