“Barclays Capital’s Ben Reitzes late yesterday published a note making the case that ‘iCloud,’ Apple‘s hosted data service for its computers and iOS-based devices, is the biggest thing for the company since the introduction of iTunes,” Tiernan Ray reports for Barron’s.
Ray reports, “Reitzes, who has an Overweight rating on Apple shares and a $555 price target, writes that ‘a truly reliable cloud service that frees customers from wires should foster more customer loyalty and convenience, in our view,’ and that CEO Tim Cook ‘gets it’ when he says iCloud is ‘profound.'”
Read more in the full article here.