Market Overview

Barclays Reiterates Overweight on Apple on Potential for New iPad

Share:
Related AAPL
Facebook, Google Make Glassdoor's List Of Top 50 Places To Work
Apple Finds Sellers At $110 Area For Fourth Day In A Row
Apple Needs To Raise Its Dividend To Entice Investors: Drexel Hamilton (Investor's Business Daily)

In a report published Tuesday, Barclays analyst Ben A. Reitzes reiterated an Overweight rating and $540.00 price target on Apple (NASDAQ: AAPL).

In the report, Barclays noted, “We believe one of Apple's big issues right now is that it is considered a ‘one-product' story again. iPads and Macs seem to be almost forgotten at this point as estimates seem to favour the downside. While iPhone has a bigger TAM and this shift is good for margins, we believe that Apple clearly needs more than just one growing product to warrant a higher multiple. We think the real next product may be right under our nose in the iPad - but not in its current form. The iPad already was a transformational 'second product' from 2010 through 2012 – and could be again in our view – but the product must change given new competition.”

Apple closed on Monday at $487.75.

Latest Ratings for AAPL

DateFirmActionFromTo
Oct 2016Goldman SachsMaintainsBuy
Oct 2016Credit SuisseMaintainsOutperform
Oct 2016PiperJaffrayMaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Barclays Ben A. ReitzesAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!