Barclays Maintains an 'Overweight' on Apple (AAPL); Expecting Software to Be the Highlight of iPhone Event

Barclays maintains an 'Overweight' on Apple (NASDAQ: AAPL) price target of $555.00.

Barclays analyst says, "We expect software to be a big focus of this announcement given the pending release of iOS 5, including iMessage and other key enhancements. We are upbeat about prospects for new voice recognition software as Apple could work in features from its purchase of Siri. The new feature could include a new interface that helps access a whole new range of commands that increase convenience and integrate more social networking options."

"Amazon Kindle Fire Launched: We believe that Amazon represents the first real challenge to the iPad. However, the Fire only includes 8 GB of memory and is Wifi only. Given these constraints, Amazon's cloud backup and streaming services will need to work very well to enjoy multiple hours of content. As a result, iPad should remain the higher end solution, catering to consumers who want to watch many movies, songs and books for a long journey that may not include continuous broadband access. Also, Apple is launching iCloud imminently, which should level the playing field in terms of cloud storage - and not require an $80 subscription."

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

Shares of Apple closed at $374.60 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• KeyBanc Reiterates Underweight Rating on Apple (AAPL)
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• SoundThinking (SSTI) PT Lowered to $8 at Cantor Fitzgerald