Barclays Reiterates an 'Overweight' on Apple (AAPL); Continuing To Extract More Profits From PC & Mobile Industries

Barclays reiterates an 'Overweight' on Apple (NASDAQ: AAPL) price target of $730.00.

Analyst, Ben A. Reitzes, said, "...While material costs are higher, we believe iPad margins could benefit from mix, as we believe higher capacity and 4G models are more popular this time around...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."

Barclays raised FY12 EPS estimate from $43.98 to $44.45 and FY13 from $50.00 to $50.95.

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 $601.10 yesterday.

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