Barclays Maintains an 'Overweight' on Apple (AAPL); Back-to-Back Announcements Could Keep Excitement Going

Barclays maintains an 'Overweight' on Apple (NASDAQ: AAPL) price target of $750.00.

Analyst, Ben A. Reitzes, expects the iPhone 5 announcement at tomorrow's event in San Francisco. Reitzes, citing conventional wisdom, thinks shares will sell-off after the announcement (which may have already begun), but it's hard to time and a follow-up announcement regarding an iPad mini, may lead to a quick turnaround followed by a rally. The story becomes more intriquing, considering Amazon's (Nasdaq: AMZN) launch of a new line of Kindle's. But, over the long-term, Reitzes believes AMZN's products will affect non-Apple products/competition more than Apple itself.

Barclays overall theme for Apple is: We believe that Apple is leading the "disruptive mobility" trend, extracting profits and revenues from PC, mobility, printing, and even retail sectors.

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 $662.74 yesterday.

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