Apple's (NASDAQ:AAPL) 2011 EPS Estimate Raised by Needham

Joining the chorus of analysts and financial institutions bumping up Apple (NASDAQ:AAPL) in some part of their future outlook, Needham raised their 2011 EPS estimates on the company.

Needham says, "Apple reported earnings of $6.43 on revenues of $26.7 billion, blowing out consensus estimates. The new news is that international revenues, especially in Asia Pacific, are exploding. We continue with a buy rating and a price target of $375. We’re raising our 2011 estimate from $18.45 to $22.25. Our initial 2012 estimate is $25.50."

Needham & Company reiterates a "Buy" rating on Apple, which was trading at $342.72, gaining $2.07, or 0.61 percent, as of 11:09 AM EST. Needham has a price target of $375 on Apple.