Apple Recap: Growth Drivers, iPhone 5S Buzz, Documents Demanded

Apple (NASDAQ:AAPL) gained 0.26 percent on Friday to close at $431.72, up 0.29 percent for the week. Here’s a cheat sheet to the top stores around the stock on the day:

Long-Term Growth Drivers

One conversation with Apple Chief Financial Officer Peter Oppenheimer gave Credit Suisse analysts Kulbinder Garcha enough confidence to reiterate an Outperform rating and a $600 price target fon the company’s stock. Oppenheimer sounded “confident, yet realistic,” and gave the analyst reason to believe that “there are several longer term growth drivers that exist for Apple.”

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The research note circulated by Garcha to investors was one of a quartet of notes written on Friday morning in support of Apple, and these bullish assessments pushed the iPhone maker’s stock up slightly in morning trading, although it had given up most of its three-dollar gain by early afternoon. Garcha’s price target of $600 represents an increase of close to 40 percent on the stock chart for Apple’s shares from their closing price of $430.58 on Thursday. In comparison, the stock has declined 36.72 percent in the six-month period ending on that date… (Read more)

iPhone 5S to Arrive Early

An analyst at Raymond James, who reiterated an Outperform rating and a $600 price target on the stock, suggested that Apple may be gearing up to launch an iPhone 5S as early as the third quarter of this calendar year. “A number of component suppliers to Apple have recently indicated an expectation of earlier seasonality this year than last year, both in terms of sluggish orders near term and expectation of growth after a springtime lull,” read a note issued by the analyst. “This appears consistent with at least one new iPhone model (we are presuming iPhone 5S branding) earlier in calendar 3Q this year than the late September launch of the iPhone 5 last year. This should cause much lower iPhone shipments in calendar 2Q and higher shipments in calendar 3Q”… (Read more)

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Apple Asked to Open Up

A judge overseeing a privacy lawsuit against Apple in the U.S. District Court for the Northern District of California has ordered the iPhone maker to produce internal documents that detail exactly how it is complying with previous court orders to submit evidence for the case. Plaintiffs in the case are accusing Apple of collecting data on the locations of customers, even when their iPhones’ geo-location feature was supposedly shut off. Plaintiffs further contend that Apple allowed third parties to access customers’ personal information through the iOS on their iPad and iPhone devices… (Read more)

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