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Apple Will Dominate ‘Ambiance,’ Says UBS

UBS’s Steve Milunovich today reiterates a Buy rating on shares of Apple (AAPL), reflecting on the fact that most of the market cap of the stock is existing profit, showing “investors don't seem to have much faith in Apple's future." Maybe if Apple has nothing but the iPhone, that worry is warranted, writes Milunovich.  But, "we believe Apple is preparing for the next era of personal technology—the Ambient Paradigm.
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