Microsoft's (MSFT) Surface Tablet Not Seen as a Threat to Apple's (AAPL) iPad - Jefferies

Microsoft's (Nasdaq: MSFT) new Surface tablet is not seen as competitive or a threat to Apple's (NASDAQ: AAPL) iPad, Jefferies' Peter Misek said.

"Though pricing details are unclear, we believe Microsoft will need to significantly undercut the iPad to be competitive," Misek said.

The analyst said the most important factor in the success of a tablet is its "ecosystem."

"Based on our discussions with developers, we find the lack of enthusiasm concerning and believe Windows 8 tablets will struggle to compete with the iPad, and to a lesser extent Android tablets such as the Galaxy Tab/Note," Misek said. He also said the two versions may cause some confusion for consumers.

Misek maintained his Buy rating and price target of $800 on Apple.

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 $585.78 yesterday.

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