Nomura Securities reiterated a Buy rating and $145.00 price target on Apple (NASDAQ: AAPL) following an update by CEO, Time Cook. Mr. Cook indicated internal updates as of yesterday morning showed China growth to be ‘strong’. With pricing in a ~%15 decline, Analyst Jeffrey Kvaal said that the risk-off market is looking for assurances of future iPhone demand. Kvaal believes that the iPhone 6S cycle will drive solid iPhone volume growth, and will be more impressive than expected.

Kvaal commented, "CEO Tim Cook’s indication yesterday that China iPhone demand remains strong is telling – as is the market’s subsequent dismissal of Mr. Cook’s update. We conclude this risk-off market is looking for assurances of future iPhone demand that are unlikely to materialize. We retain our view the impending 6S launch will be more impressive than expected."

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 $103.12 yesterday.

Analyst Comments

Global Equities Cuts China GDP Growth Outlook; Still Sees Apple (AAPL) Reaching $155 Price TargetAugust 25, 2015 7:19 AM Apple (AAPL) Sell-Off Seen as 'Overdone', Wells Fargo Upgrades Stock to OutperformAugust 25, 2015 6:34 AM Wall Street rally goes up in smoke, indexes end lowerAugust 25, 2015 6:15 AM China stocks plummet again as Beijing sits on sidelinesAugust 24, 2015 9:51 PM Market Wrap: Markets Riled on China Worries; Apple's Cook Calms Investors; Southern Co. Bets on Nat GasAugust 24, 2015 5:18 PM Wall Street's slide unlikely to undermine support for U.S. stocksAugust 24, 2015 2:10 PM Apple's (AAPL) Cook Criticized for Email Update to CramerAugust 24, 2015 1:38 PM Streetinsider.com's Hot Lunchtime Reads 8/24: (AAPL) (LGND) (MON) (FCAU)August 24, 2015 12:02 PM Apple (AAPL) Turns GreenAugust 24, 2015 11:47 AM Apple (AAPL) Goes Green; Up Over $14 from Morning LowAugust 24, 2015 11:47 AM Apple's (AAPL) China Metrics Still Solid Following Recent Checks - StifelAugust 24, 2015 11:42 AM Many Stocks See Dramatic Reversals from Morning LowsAugust 24, 2015 11:39 AM Apple (AAPL) Nears Flat on the SessionAugust 24, 2015 10:26 AM Apple (AAPL) Being Thrown Out with the Bath Water, FBR Capital SaysAugust 24, 2015 10:21 AM Cantor Fitzgerald Defends Apple (AAPL); Valuation 'Irrational'August 24, 2015 10:10 AM Apple (AAPL) Bounces; Back Over $100August 24, 2015 9:39 AM Pre-Open Stok Movers 08/24: AGL Resources (GAS) HIGHER; Most Everything Else LOWERAugust 24, 2015 9:19 AM Apple (AAPL) CEO Tim Cook Said Performance So Far This Qtr 'Reassuring'August 24, 2015 9:07 AM Apple (AAPL) Launches iSight Replacement Program for iPhone 6 PlusAugust 24, 2015 8:06 AM Apple (AAPL) Falls Below $100/ShareAugust 24, 2015 8:00 AM Wall St. posts worst day in four years, S&P 500 now in correctionAugust 24, 2015 6:33 AM Top 10 News for 8/17 - 8/21: Stocks Hit on China Growth Fears; Fed Hints at Rate Hike NearingAugust 21, 2015 3:55 PM S&P 500 Again Tests New LowsAugust 21, 2015 2:50 PM Tesla engineer joins Apple's growing team of automated car experts August 21, 2015 2:49 PM Jim Chanos Still Short Hewlett-Packard (HPQ); Long Apple (AAPL) - CNBCAugust 21, 2015 12:44 PM Swiss Watchmaker Trademarks Famous Steve Jobs Quote (AAPL) August 21, 2015 12:42 PM Streetinsider.com's Hot Lunchtime Reads 8/21: (AAPL) (WAIR) (WATT) (MO)August 21, 2015 12:06 PM Apple (AAPL) Sell-Off IntensifiesAugust 21, 2015 10:52 AM Morning Bounce Fades (SPY) (NFLX) (AAPL)August 21, 2015 10:50 AM Samsung Offers iPhone Users Free 30-Day 'Test Drive' in Latest Promotion (AAPL) August 21, 2015 9:41 AM Daimler CEO mulls JVs with Apple, Google: magazineAugust 21, 2015 7:52 AM China fears hand Wall St. its worst day since 2011August 21, 2015 7:26 AM