Goldman Sachs Comments on Apple

Goldman Sachs commented on Apple AAPL in a report released yesterday. In the report, Goldman Sachs was positive in its assessment of the company. Goldman Sachs writes, "Apple's cloud introduction and iOS 5 refresh effectively eliminate the need for a PC or Mac hub for iOS devices. We believe this substantially enhances the value of the platform, increases barriers to entry for all iOS devices, and makes it easier for users to purchase and manage multiple iOS products. Most important, we believe that Apple's cloud offerings require cutting-edge compute infrastructure and a tightly integrated platform, which few companies will be able to fully replicate." Goldman Sachs currently has a Buy rating on Apple and a price target of $470. Shares of AAPL closed at $338.04 on Monday, down $5.40 from the opening bell.