Apple Inc. (AAPL) Gets On Barclays’ ‘Favorite’ List

Apple Inc. (NASDAQ:AAPL) is yet again stealing the show as Barclays Capital shifts its sentiment to bullish towards the iPhone maker. On Monday, Apple’s stock appreciated by 1.29%, reflecting a broader movement in the technology space. CNBC reported that Apple Inc. (NASDAQ:AAPL) played a significant role in Monday’s tech rally after Barclays changed its outlook from ‘Equalweight’ to ‘Overweight.’

Apple Inc. (NASDAQ:AAPL)

A Forbes report highlighted that the research firm, even went on to compare Apple Inc. (NASDAQ:AAPL) with the tech peer, Google Inc (NASDAQ:GOOG), ahead of the launch of its iPhone 6. Barclays analysts, led by, Ben Reitzes, appeared appreciative of the Apple’s recent strategy shift. The report stated, that Tim Cook “has solidified his strategy and re-gained the confidence of Apple stakeholders in many ways — reversing many of the warning signs we saw earlier this year.”

Consequently, the research firm has raised the price target from $95 to $100. The upgrade from Barclays is essentially a big positive factor for Apple Inc. (NASDAQ:AAPL) as the research firm had cut down its outlook on the stock this February after raising several red flags.

In addition to this, Reitzes also placed competition as another important factor decisive of Apple Inc. (NASDAQ:AAPL)’s success. Therefore, in view of Samsung’s recent string of problems, Reitzes strongly believes that Apple will get ample opportunity ahead, prompting him to raise his June quarter earnings estimate to $1.24 per share and revenue forecast to $38.33 billion. Both the figures are well ahead of the market projections.

In the meanwhile, it is not just Barclays, which has boosted the sentiments for Apple Inc. (NASDAQ:AAPL), but Pacific Crest too has released a report indicating that the iPhone 6 launch could help many other companies. For instance, Pacific Crest noted that InvenSenseInc (NYSE:INVN), which is focused on motion processing technology in Smartwatch and tablets will benefit from the iPhone and iWatch rollout. Also, the research firm said that NXP Semiconductors NV (NASDAQ:NXPI) is positioned to harness the benefits from the iPhone momentum.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!