Overweight Ratings on Apple (AAPL), New Product Launches In The Pipeline

Barclays Capital (Analyst: Ben Reitzes) reiterated its bullishness on Apple Inc. (NASDAQ: AAPL) with a price target of $235 per share.

Barclays Capital expects a major product announcement within a month, and estimated incremental sales of a million units a year of the tablet device, leading to an additional $0.15 EPS and 22% y/y growth for the December quarter for Apple’s core Mac line. The estimates are backed by a shift in the mix towards the iPod Touch and an increase in App downloads which is believed to be a differentiator over the long term.