Barclays Reiterates an 'Overweight' on Apple (AAPL); Mac Refresh Soon, Plus Smaller Tablet More Likely

Barclays reiterates an 'Overweight' on Apple (NASDAQ: AAPL) price target of $750.00.

Analyst, Ben A. Reitzes, said, "NPD US data indicates that Mac units were down 13.5% y/y in April following a 16% y/y decline in March (units grew 6% y/y in February). Despite these declines, we believe Apple continues to benefit from international growth. We also believe data reflects a pause ahead of new products, which we believe will be released in June, including new iMacs, MacBook Pros and MacBook Airs."

As far as the iPad goes, Reitzes sees Apple adding Form Factor in the 7" range this fall. A smaller iPad won't dilute current sales, rather the company is just keeping up with competition.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $558.22 yesterday.

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