BUZZ-Apple Inc: Snap back

Wed Sep 14, 2016 10:41am EDT
 
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** Apple's rebound gathers pace as the stock hits a 5-month high heading into the iPhone 7 and 7 Plus cycle

** Stock up more than 3 pct in mid-morning trading, now up 8 pct this week

** Stock buoyed by better-than-expected iPhone preorders from Sprint Corp and T-Mobile

** Traders also citing multiple positive notes from Street research analysts

** RBC says several tailwinds position AAPL to outperform from current levels, including the potential for Apple to grab market share given Samsumg's woes with Galaxy Note 7; analyst Amit Daryanani reiterates "outperform" and $117 PT

** Morgan Stanley reiterates "overweight", saying AAPL only needs 25 pct of its existing iPhone users to upgrade to beat consensus

** Stock's bounce takes company's market value back near $600 bln