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While Topeka Capital analyst Brian White is skeptical of investing in hardware firms in 2013, he recommends “focusing on companies best positioned to benefit from key secular tech trends that we believe are in place this year.” And in not much of a surprise, Apple (NASDAQ:AAPL) is his overall top pick.
The iPhone maker’s stock was in trouble as 2012 closed out — falling almost 25 percent after reaching a record high in September — but it has started the new year on a high and looks to be getting its bulls back. White said in a note to investors on Wednesday that Apple’s late losses in 2012 were largely related to rising capital tax concerns rather than worries about the company’s individual perception. And 2013 was likely to bring in several positive catalysts.
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“We believe there is still plenty to look forward to at Apple, including the potential for greater choices (i.e., colors, sizes) around the next iPhone in 2013, combined with accelerating momentum with the iPad mini and continued strength with the iPad franchise at large,” White wrote, according to Apple Insider.
As far as the tech industry at large was concerned, White warned investors to “remain selective” as there were concerns such as challenging trends in Europe and “muted economic growth expectations” in the U.S.
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