Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Record Patent Verdict

Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $797.00.

Analyst, T. Michael Walkley, said, "Following its record patent victory over leading Android smartphone OEM Samsung, we believe Apple has an even stronger competitive market position ahead of its iPhone 5 and other anticipated product launches. We believe Apple’s industry-leading software ecosystem and its leading hardware expertise will underpin a strong multi-year product cycle for its key products. We believe Apple is well positioned for very strong F2013 sales and earnings growth driven by new product introductions, including the recent refresh of the MacBook Air and Pro series, an LTE iPhone 5, iPad Mini, and potentially Apple TV in F2013."

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 $663.22 yesterday.

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