Apple is seeing only limited effects from economic pressures that are hitting sales of electronics based on its web page traffic tracking, according to Jefferies analyst Kyle McNealy, reports Barron’s.
“Page traffic is running well ahead of consensus as suggested by the month-over-month sequential growth in January for all products except iPhone which is approximately in-line,” McNealy wrote. “We see page traffic tracking ahead of expectations as a positive sign that Apple isn’t seeing as much macro pressure as anticipated, at least through January,” McNealy added.
He maintained his Buy rating on the stock, with a target of US$195 for the price.
Article provided with permission from AppleWorld.Today