Barclays Maintains an 'Overweight' on Apple (AAPL); Mac Growth Decelerates Ahead of Lion & New Products

Barclays maintains an 'Overweight' on Apple (NASDAQ: AAPL), PT $465.

Barclays analyst says, "We expect Apple to post another solid quarter after the close (7/19) with results driven by strong iPad sales...We had expected Apple to decelerate in the month of June given the lack of new products, potential delayed purchases ahead of Mac OS X Lion and the less attractive back to school promotion this year. Given that international sales - which are significant - are not accounted for in this data set and the potential that Japan demand was not as bad as feared, we believe our estimate for 22.5% y/y worldwide Mac unit growth for C2Q is still within reach (the consensus estimate of +15% Mac unit growth could still be conservative)."

"We believe this patent win against HTC could eventually help Apple offset the recent Nokia (NYSE: NOK) settlement and other litigation. In addition, it is important to note that the infringements appear related to Android's architecture, which could have implications for other Android partners."

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $373.80 yesterday.

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