Barclays Reiterates an 'Overweight' on Apple (AAPL); Stand Out In Asia

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...Last week we finished our visit to Asia in conjunction with our global colleagues, with stops in Hong Kong, Taiwan, Korea and Tokyo where we met with leaders in the PC, mobile and local distribution markets. The companies we visited noted that local PC vendors were gaining share from a struggling competitor and were very optimistic about the potential for smartphones (iPhone/Apple more than other brands) and the prospects for tablets (iPad/Apple much more than any others). The clear takeaway is that Apple has positive momentum into the holidays with a major new iPhone product cycle along with share gains in PC's with Macs and iPads."

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

Shares of Apple closed at $411.63 yesterday.

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