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Apple Will Still Grow Despite Macro Malaise: Analyst

Worried that a slowdown in China and Europe will drag down Apple? Don’t be.

ISI analyst Brian Marshall tells us that Apple should continue to grow despite the current macro malaise.

“Apple’s quarter is going to be pretty good,” he predicts. Marshall along with many other tech watchers believe that the Apple faithful will spend on Apple’s must-have gadgets, even amid an economic slowdown.

"They continue to penetrate markets with their tablet, smartphone and computers," he says. Interest remains strong.

And Marshall believes the slew of new gadgets coming out later in the year will keep consumers coming back for more.

“I’m not 100% sure their (rumored) new tablet will be a mini iPad. It may be billed as iPod Max but there is a 7.85 inch screen device coming in the back half of this year,” he says.

“Also we expect the iPhone 5 in October and we think the iTV comes out in early 2013.”

All told, Marshall seems to believe the new gadgets will generate a lot of interest from buyers and, as a result, will be powerful upside catalysts.

“We have a $750 price target on the stock,” he says. At the time of writing, that’s a gain of $150 or 25%.

That’s a big move but Marshall doesn’t find the call daunting or unrealistic. “Apple remains one of our top ideas,” he says.



Posted by CNBC's Lee Brodie

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Trader disclosure: On July 6, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in NFLX; Jon Najarian is long call spreads in KMI; Jon Najarian is long call spreads in AMZN; Jon Najarian is long CIGX; Jon Najarian is long GLUU; Jon Najarian is long CME; Jon Najarian is long CBOE; Pete Najarian is long AAPL; Pete Najarian is long AAPL CALLS; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long NFLX CALLS; Pete Najarian is long NKE; Pete Najarian is long PCX CALLS; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long FRO; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long VLO; Steve Grasso is long XLU; Steve Grasso is long ZAZA; Mike Murphy is long INTC; Mike Murphy is long SBUX; Mike Murphy is long FB; Mike Murphy is long NKE; Mike Murphy is long LNG; Mike Murphy is long COG; Mike Murphy is long TOL; Mike Murphy is long LEN

For Boris Schlossberg
Nothing to Disclose

For Doug Kass
Nothing to Disclose

For Brian Marshall
Neither ISI nor its affiliates beneficially own 1% or more of any class of common equity securities of the subject companies referenced in the Report.

For Chirantan Burua
The following companies are or during the past twelve (12) months were clients of Bernstein, which provided non-investment banking securities related services and received compensation for such services: BCS


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