“Despite worries about component supplies in the wake of the Japanese earthquake, Apple’s supply chain remains robust, according to analyst firm Canaccord Genuity,” James Rogers reports for The Street. “‘While we believe supply could be tight for the industry due to Japan, we believe Apple is leveraging its dominant market position and will fare much better than competitors,’ wrote Canaccord analyst Michael Walkley in a note Monday. ‘We believe suppliers will likely provide Apple with preferential supply, as Apple is often the largest customer for many suppliers.'”
Rogers reports, “Walkley, who raised his Apple price target from $460 to $480, pointed to strong sales of the iPhone 4 at AT&T and Verizon, along with impressive initial sales of the new iPad 2. ‘With ongoing strong sales of the iPad 2 and iPhone 4, suppliers are more likely to supply Apple, as Apple is more likely than competitors to maintain strong orders,’ he added. ‘We believe Apple will maintain dominant value share of both the tablet and smartphone markets,’ he said, and reiterated his buy rating for the company.”
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