Rodman & Renshaw Outperform On Apple

Rodman & Renshaw has an Outperform rating and a $360 price target on shares of Apple AAPL. In the note, Rodman & Renshaw writes, "Our checks indicate that global handset consumption, or sell-through volumes, deteriorated to mid-single growth year-on-year or lower in the June quarter. Feature phone volumes have declined sharply and price discounts on smartphones have not provided the necessary lift. Headwinds include economic dislocations and saturation in key markets like India. 4G has not been a factor yet due to battery life and unappealing form factors." Shares of AAPL are up 95 cents today to $354.95.