Deutsche Bank Reiterates a 'Buy' on Apple (AAPL); Simply Unmatched

Deutsche Bank reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $600.00.

Deutsche analsyt says, "At a special event in San Francisco, AAPL introduced the new iPad with specs that were in line with expectation (retina display, 4G and speed bump) and priced like the original (16GB starts at $499). Launch timing was earlier than we expected and could drive March Q unit upside (ships 3/16 in 16 countries and 25 add’l countries on 3/23). At 9x PE (ex cash) we believe shares of AAPL are attractive given the strength of its product cycles & distribution (iPad, Apple TV, iPhone 5 on the horizon, China expansion, carrier deals etc)...We believe competitors (Android and Windows) will have trouble matching the price-performance specs ...We believe the retina display (2048x1536) with 44% greater color saturation combined with the quad-core graphics processor produces a tablet experience that is simply unmatched."

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 $530.69 yesterday.

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