Barclays Reiterates an 'Overweight' on Apple (AAPL); Likely Least Impacted by HDD Crisis of the Major Computer Companies

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

Barclays analyst says, "Intel (Nasdaq: INTC) announced its Q4 results are expected to be below the company's previous outlook due to HDD supply shortages. We think Apple will be the least impacted of our PC coverage names, if at all, given its ability to sell Macbook Airs and iPads. That said, we do expect there to be a downside bias in the hundreds of basis points to our current global PC unit forecast of 4% y/y growth in 4Q and 3.6% y/y growth for C1Q - which are already below normal seasonality."

"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."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $391.84 yesterday.

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