Jefferies Stays Bullish on Apple Ahead of iPhone 5 Announcement (AAPL)

By Staff,

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Computer and mobile device maker Apple Inc. ( AAPL ) on Tuesday caught some continued bullish commentary from analysts at Jefferies & Co.

The firm reiterated its "Buy" rating on AAPL as well as its $900 price target, which suggests a 36% upside to the stock's Monday closing price of $662.74.

A Jefferies analyst commented, "We believe Apple will unveil the iPhone 5 on September 12. While there may be fewer surprises than there have been in prior years (as the number of leaks seem to be uncharacteristically high this time around), we still see numerous catalysts for the shares to perform well over the next couple months and the next year."

Apple shares posted small gains in premarket trading Tuesday.

The Bottom Line
Shares of Apple ( AAPL ) have a 1.60% dividend yield, based on last night's closing stock price of $662.74. The stock has technical support in the $636-$656 price area. The shares are trading near all-time highs.

Apple Inc. ( AAPL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: AAPL

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