Jefferies Investment Bank analyst: the impact of the global economic downturn on Apple's consumer products is limited

CTOnews.com, March 3 (Xinhua)-- Jeffery Investment Bank (Jefferies) believes that the global economic downturn has had a very limited impact on Apple electronics sales.

Best Buy reported results on Thursday and told investors it expected demand for consumer electronics to fall this year. HPQ, the PC seller, said this week that demand for personal computers continued to decline, affecting quarterly sales.

However, Jeffery investment bank analyst Kyle Mcnealy wrote in a research note on Thursday that based on an analysis of global Internet traffic, Apple products have not been significantly affected.

The part of McNealy translated by CTOnews.com is as follows:

With the exception of iPhone, traffic on all Apple product pages showed month-on-month growth, and page traffic exceeded expectations.

I think the better-than-expected tracking of page traffic is a positive sign that Apple is not seeing the expected macro pressure, at least until January.

He maintains a buy rating on the stock, with a target price of $195 a share (CTOnews.com Note: currently about 1347 yuan).