From: Tazia Smith Sent: Tuesday, October 29, 2013 11:24 AM To: jeffrey epstein Attachments: Disclaimer.txt Classification: Public Good Morning Jeffrey - As=you likely saw, AAPL recouped immediate losses in the aftermarket yday (tr=ding back up to —527) after mgmt comments on the conference call suggestin= that lower gross margins were a result of deferrals. Will watch for any f=llow-through (the sell side has been broadly positive in response to earni=gs) and opportunity to sell OTM calls today. Fyi only, DB's summary of AAP=.'s earnings report and commentary below (reit 575 tgt). Tazia Source: bloomberg, streetaccount.com, db global markets research, 10/=8/13 Tazia Smith Director Markets Coverage Group Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Managem=nt 345 Park Avenue - 26th Floor New York, NY 10154 Tel Mobile: Fax: E-mail: From: EVS=EquityFocus Sent: 10/29/2013 10:01 AM GOT Su=ject: DB: AAPL.OQ - Chris Whitmore Classification: Public Apple Inc (Buy, CP: $529.38, TP: $575.00, AAPL.OQ, Chris Whitmore) Product cycles kicking into gear AAPL reported revs of $37.56 and EPS of $8.26 which beat expectation (vs. DB at $36.9B/$8.02; Street at $36.8B/$=.93). Apple beat on iPhone units (33.8M vs. DB at 32.5M) and iPads (14.1M vs. DB at 12M) and Mac results were light (4.6M EFTA_R1_01749136 EFTA02576810