“Barclays‘s Ben Reitzes today writes that Apple’s iPad ‘clearly has the flu,’ citing lower-than-expected fiscal Q3 shipments of 14.6 million, and he opines that a greater focus on numerous uses in retail and point-of-sale might help the product to expand its addressable market.
“Reitzes, who maintains an Overweight rating on the shares, and a $525 price target, writes that in general, ‘the company may be well served by a greater focus on the corporate market in the future,'” Ray reports. “Reitzes reflects on the recent reports of tablet sales slowing for the entire industry, and he cut his own forecast for the market to 215 million units this year from a prior 242 million, though, mind you, that is still $76 billion in revenue, and a whopping 67% year-over-year increase.”
Ray reports, “Some of the slowing has to do with lack of new hardware of late to stimulate buying. He notes Apple is expected to bring forth several new versions of the iPad in coming months.”
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