Apple (AAPL) Television Set Unlikely Near-Term, Says Wells Fargo

Wells Fargo maintained a Market Perform rating on Apple (NASDAQ: AAPL) with a price target of $120-$130. Comments follow rumors it is in talks regarding a 25 channel online TV service.

Analyst Maynard Um said the deal could be a prelude to an Apple television set, but in his view, Apple will need more service experience as well as subscription volumes. With this in mind, he thinks a television set is "unlikely over the medium-term."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $124.95 yesterday.

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