Citigroup reiterates $600 AAPL price target after meeting with Apple CEO Cook, CFO Oppenheimer

“Citigroup’s Richard Gardner this morning reiterates a Buy rating on shares of Apple and a $600 price target after hosting a meeting on Thursday with chief executive Tim Cook and CFO Peter Oppenheimer on Apple’s campus,” Tiernan Ray reports for Barron’s.
“Among the ‘key points’ Gardner gleaned was that Cook reiterated a view that expansion in the iOS operating system platform will lead to tablet sales eventually surpassing the volume of sales of traditional PCs,” Ray reports. “‘We have wondered whether Apple might offer an ARM Holdings-based version of the MacBook Air at some point; we walked away from this meeting with the impression that Apple feels iPad satisfies — or will soon satisfy — the needs of those who might have been interested in such a product,’ writes Gardner.”

Ray reports, “Gardner also sees an agreement with China Mobile coming this year for the iPhone, given Gardner’s own ‘checks’ suggest the device will support both Western-style ‘LTE’ cellular networking but also the home-grown Chinese ‘TD-SCDMA’ cellular standard.”


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