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Apple TV likely in time for 2013 holiday, says Piper Jaffray

Piper Jaffray believes Apple will launch a television in time for the 2013 holiday season and calls the stock a top pick for 2013. Piper believes investors that sold Apple shares to avoid a potential tax increase could return to the stock given the valuation. The firm keeps an Overweight rating on the name with a $900 price target.