S&P Capital IQ Reiterates its STRONG BUY Rating on Apple

October 15 00:00 2011

NEW YORK, October 15 (FinanaceEnquiry.com) – Analyst Scott Kessler of S&P Capital IQ reiterates his STRONG BUY rating on the shares of Apple (NASDAQ: AAPL).

Analyst Scott Kessler, in a research note published this morning, mentions that despite the initial disappoint from iPhone 5, the interest has been considerable on AAPL’s new iPhone 4s which went on sale yesterday. Channel checks suggest that many stores sold off their Apple iPhone 4S inventory, the analyst says. Also presales from AT&T, Sprint Nextel, and Verizon were sold out yesterday. Although, upgrades to iOS 5 reported to have some flaws, demand for the company’s wireless products remains robust, the analyst mentions. S&P Capital IQ expects Apple to sell millions of Apple 4S devices by the end of this weekend.