APPL Update reiterating our “sell/short”

The attached report is an update on APPL stock, following our original “Sell/Short” note from October 3rd, 2012 to our clients.

After a report by James Stewart, NYTimes this past Friday Feb. 8th, 2013  in his “Common Sense” Column, “Following a Herd of Bulls on Apple”http://www.nytimes.com/2013/02/09/business/following-a-herd-of-bulls-on-apples-stock.html?pagewanted=2&_r=0&ref=business, we are reiterating our “Sell/Short” recommendation on APPL with a short-medium term (3-9 months) price target of US$ 320/share.

021113 CGI Apple Updated Commentary comp Chart to NOK