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AAPL< Apple margin decline concerns overblown, says Piper Jaffray
Piper Jaffray believes concern that Apple's margins will drop below 30% in the next two years is overblown. Piper continues to expect Apple will announce its TV product late in 2013 with shipment in 2014. The firm thinks shares will move higher as new products come into focus and keeps an Overweight rating on Apple, despite lowering its price target for shares to $655 from $688.