Apple's iPhone platform has the momentum, according to Barclay's Capital analyst Ben Reitzes. In a research note obtained by The Mac Observer, Mr. Reitzes said that even with develops such as Google and Verizon working together to accelerate the Android platform, Apple still has the advantage in this market.
"We believe the iPhone developer platform has significant momentum (over 85K apps available with over 2 billion downloaded as of 9/28) with backing from [Venture Capitalists] and rapid adoption beginning in business," Mr. Reitzes wrote. "We believe that Apple remains well positioned," though he stressed the importance of continuing to monitor the company's competitors.
Mr. Reitzes maintained his US$208 price target and reiterated his "Overweight" rating on the stock, versus a "Neutral" rating on the sector.
Shares in Apple moved slightly higher Wednesday, closing at $190.25 per share, a gain of 0.24 (+0.13%), on moderate volume of 16.6 million shares trading hands.
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.