Barclays Maintains an 'Overweight' on Apple (AAPL); Strategic Player in Nortel Patent Auction
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Price: $304.23 -0.56%
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Barclays maintains an 'Overweight' on Apple (NASDAQ: AAPL), PT $465.
Barclays analyst says, "Last week Nortel announced that a consortium of vendors, including Apple, was the winning bidder for the company's patent portfolio for $4.5B. The Nortel patent portfolio consisted of about 6K patents related to areas such as wireless, internet search, social networking, data networking, optical, voice, service provider, and semiconductors. While exact details of Apple's participation are unknown, it is believed that the company likely paid a significant portion of the bid in order to gain access to the portfolio of LTE/4G patents. Regardless of how much Apple paid (could be up to $2B); the amount is still rather immaterial to a company with over $65 billion in net cash. We believe the patent portfolio likely provides Apple leverage and or potential future licensing fees which could help offset its recent settlement with Nokia (NYSE: NOK). The patents also likely create an impediment for Google (Nasdaq: GOOG) and Android. Google is currently tied up in a patent infringement fight with Oracle (Nasdaq: ORCL) for its use of Java in Android's OS."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $349.43 yesterday.
Barclays analyst says, "Last week Nortel announced that a consortium of vendors, including Apple, was the winning bidder for the company's patent portfolio for $4.5B. The Nortel patent portfolio consisted of about 6K patents related to areas such as wireless, internet search, social networking, data networking, optical, voice, service provider, and semiconductors. While exact details of Apple's participation are unknown, it is believed that the company likely paid a significant portion of the bid in order to gain access to the portfolio of LTE/4G patents. Regardless of how much Apple paid (could be up to $2B); the amount is still rather immaterial to a company with over $65 billion in net cash. We believe the patent portfolio likely provides Apple leverage and or potential future licensing fees which could help offset its recent settlement with Nokia (NYSE: NOK). The patents also likely create an impediment for Google (Nasdaq: GOOG) and Android. Google is currently tied up in a patent infringement fight with Oracle (Nasdaq: ORCL) for its use of Java in Android's OS."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $349.43 yesterday.
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