Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Thesis Fully Intact Despite Death of Legend

Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $545.00.

Canaccord analyst, T. Michael Walkley, said, "Last evening, Apple released a statement informing the public of the death of legendary founder, former CEO and Chairman Steve Jobs. While Mr. Jobs’ passion, creativity, and keen eye for consumer preference will be missed, we believe Jobs and Apple’s executive team have built an unparalleled talent base and corporate culture that sets the table for future success and innovation. 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. Apple remains a top pick."

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

Shares of Apple closed at $378.25 yesterday.

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