Gabelli & Company Reiterates Buy Rating on Apple

In a report published Monday, Gabelli & Company reiterated its Buy rating on Apple (NASDAQ: AAPL).

Gabelli & Company noted, “There is speculation that Apple will release a new “mini/smaller size” iPad. While many think that mini iPads will cannibalize sales of iPads, we believe that mini iPads can open up new market opportunities such as portable automobile media consoles, navigation systems, and portable video game consoles.”

Apple closed on Friday at $604.97.