FORTUNE -- "We think it's time to revisit what makes Apple unique," writes Lazard Capital Market's Edward Parker in a note to clients that initiates coverage with a Buy rating and a $540 price target.
Don't think of Apple (AAPL)...
Lazard: Apple’s core business is selling end users flash memory at steep markups
And that's a great business to be in, says the bank, as it initiates coverage with a Buy.
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