In a note to clients — as reported by “Forbes” (http://macte.ch/HGAdn) — Barclays Capital lifted his price target on Apple from US$515 to $555.
“On the back of our recent trip to Asia and checks within retail, our research continues to point to upside for iPhones, iPads, and Macs — even as the economy softens,” he says. “Yes, the economy is a major concern for all companies but macro events don’t seem to be impacting Apple’s ascension as the primary disruptive force in hardware. We continue to believe that Apple is the primary beneficiary of the ‘consumerization of IT’ trend, while also enjoying defensive characteristics in terms of cash flow, net cash and valuation.”
Retizes says the supply chain is readying to ship up to 40 million iPads in the current calendar year, with production ramping for screens for an iPad 3 by March 2012. As for the iPhone, he says the supply chain could ship as many as 30 million units in the December quarter.