Auriga Maintains a 'Buy' on Apple (AAPL); DoJ Charges To Have Little Effect

Auriga maintains a 'Buy' on Apple (NASDAQ: AAPL) price target of $700.00.

Analyst, Kevin Dade, said, "The U.S. Department of Justice allegations regarding Apple's collusion with publishers in setting digital book pricing that resulted in formal charges filed yesterday ultimately has little effect on the company's overall well being, in our view; however, it does raise the specter of collateral damage to image. Perhaps the greatest challenge of Tim Cook's Apple stewardship is maintaining the positive perception Apple's key constituents have of the company itself; in the e-book world this core group consists of authors, publishers, and of course, consumers. We think the investment community at large agrees with our take of inconsequence on the DOJ's action as the stock traded flattish on a flattish day, and Apple, as is its policy, offered no comment with regard to the litigation when questioned yesterday."

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 $626.20 yesterday.

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