Jefferies Says Apple Not Really Affected By Japan (AAPL)

Jefferies & Co. says that Apple Inc. AAPL is not going to be affected much from the devastation in Japan.

In a note to investors, Jefferies writes, "...the strong demand for the iPad 2 and widespread stock outs means AAPL should be able to find alternative buyers as iPad 2 shipments are limited more by supply at this point than demand."

Shares of Apple gained $4.63 yesterday to close at $334.64, a gain of 1.4%.