Barclays reiterates an 'Overweight' on Apple (AAPL): Q1 Preview and Guidance; Is iPhone 5 a Major Catalyst?

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

Ben A. Reitzes, said, "We believe revenue upside can be supported by iPads & iPhones. iPads seemed strong with the launch of the next generation iPad. iPhones seems to have benefited from strong international demand. We remain confident that our C1Q12 estimate for EPS of $9.67 is very conservative. This estimate is based on 46% y/y revenue growth to about $36 billion. Our C1Q12 estimates include Mac unit growth of 15.5% y/y to 4.3 million, which could see downside given impact from the iPad and a pause ahead of new products."

Reitzes assumes very conservative guidance from Apple for its June quarter, but then the iPhone 5 should be a main catalyst for shares when it launches this fall.

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 $571.70 yesterday.

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