Barclays reiterates an 'Overweight/Top Pick' on Apple (NASDAQ: AAPL); International Sales Provides Relief; Stay The Course for iPhone 5

Barclays reiterates an 'Overweight' on Apple (NASDAQ: AAPL) price target raised from $730 to $750.

Analyst, Ben A. Reitzes, said, "We recommend "staying the course" into what we believe will be a major iPhone 5 launch this fall. While Apple's outlook and global research points toward decelerating iPhone sales through September, we believe we are well within the 6-month range when shares benefit in anticipation of major product cycles."

Barclays sees Q3 EPS at $9.62, lowers Q4 EPS from $11.30 to $10.05, but raises FY12 from $44.45 to $45.81. FY13 raised from $50.95 to $52.00 on revs of $190.5 bln.

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 $560.28 yesterday.

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