Barclays Reiterates an 'Overweight' on Apple (AAPL); Tim Cook Becomes CEO; Apple Asserting Dominance in Tablet Space

Barclays reiterates an 'Overweight' on Apple (NASDAQ: AAPL) price target of $515.00.

Barclays analyst says, "We continue to believe Apple's market cap can see further gains as it extracts more profits out of the traditional PC and mobile phone industries...While we do not believe that Steve Jobs is replaceable, it is worth noting that Tim Cook is a proven executive who can handle the pressure and knows how to run the inner workings of Apple in Jobs' shadow."

"Apple Sees Some Favorable Rulings: We believe it is interesting to see how the case develops given Samsung has been considered the real serious competitor to Apple in the mobile phone and tablet space. We still believe that most non-Apple players in the tablet market are seeing sales well below expectations and Apple is asserting "iPod-like" dominance in the tablet space, which is highly disruptive to the Windows PC market."

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

Shares of Apple closed at $389.99 yesterday.

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