Apple (NASDAQ:AAPL) MacBook Airs Seem to Have More Upside than iPad says Barclays (NYSE:BCS)

Analysts

Barclays reiterated their "Overweight" rating on (NASDAQ:AAPL), citing strong global expansion, iPhone, iPads, and the new MacBook Airs.

"We continue to believe Apple's valuation is attractive and that shares can benefit from strong iPad demand, the continued ramp of iPhone 4, significant international expansion and a pipeline of new innovations...NPD released October US sales data indicating that total PC unit sales grew 5% y/y in October vs. 10% y/y in September, but the industry did continue to benefit from better mix. Mac units in October grew 20% y/y, representing 15% unit share (+2pts y/y) and 28% value share (+2pts y/y)...In some Apple stores where we observe customers, it seems sales of the new MacBook Airs have more upside vs. expectations than iPads. As a result, we believe Macs could have more upside vs. consensus than iPads in Apple's December quarter," said Barclays.

Apple closed Wednesday at $300.50, dropping $1.09, or 0.36 percent. Barclays has a price target of $390 on Apple.