Friday, December 3, 2010

Apple's (NASDAQ:AAPL) iPad, iPhone Continue Strong Sales

Citing channel checks, Canaccord Genuity said Apple's (NASDAQ:AAPL) iPad and iPhone continue to sell briskly, and maintain their "Buy" rating on the company.

Canaccord said, "Based on continued strong sell-through trends for the iPad and iPhone, we believe Apple will maintain both market and value share leadership in these fast growing markets...Based on our checks indicating strong iPhone and iPad trends, we are increasing our Apple F2011 EPS estimate from $18.33 to $18.84 and our F2012 estimate from $21.06 to $21.61."

Apple closed Thursday at $318.15, up by $1.75, or 0.55 percent. Canaccord has a price target of $421 on them.

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