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Apple: Don’t Count on Many Defecting Samsung Owners, Says Nomura

Shares of Apple (AAPL) are down 38 cents at $117.25, after Nomura’s Jeffrey Kvaal this morning said not to count on a big lift from Samsung Electronics’s (005930KS) debacle with its “Note 7” smartphone. Contrary to multiple claims last week that Apple could benefit from defecting Samsung users for Apple’s own iPhone 7, Kvaal, who has a Buy rating on Apple shares, and a $135 price target, writes "we do not consider it prudent to assume Apple will benefit materially as a result.
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