Barclays Reiterates an 'Overweight' on Apple (AAPL); $500/Share...There's Still Plenty of Catalysts Ahead

Barclays reiterates an 'Overweight' on Apple (NASDAQ: AAPL) price target of $630.00.

Analyst, Ben A. Reitzes, who has reiterated his rating on the stock for quite some time is still very positive on the company/stock.

Reitzes said, "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. Even as Apple has crossed the $500 share price for the first time, we continue to believe that Apple can enjoy several new product cycles and even start to take advantage of its balance sheet in FY12."

Reitzes sees a new iPad, new Macs, iPhone 5 and iPhone growth throughout China as catalysts. He also feel a TV is the next 'natural move' and even expects the company to start shipments in FY13.

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 $502.60 yesterday.

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