Apple's (Nasdaq:AAPL) iPad, Mac Demand Strong Following Christmas Says Deutsche (NYSE:DB)

Citing channel checks, Deutsche Bank said Apple's (Nasdaq:AAPL) iPad and Mac demand was better than expected during the Christmas holiday.

Deutsche noted, "1) better than anticipated iPad and Mac demand, 2) no pause in iPhone demand ahead of the expected Verizon (NYSE:VZ) announcement, and 3) favorable input costs (LCD, DRAM etc). Our iPhone estimate increases from 55M to 60M in 2011 (doesn't include Verizon expected in 1H11) and iPad from 22M to 28M."

Consequently they raised CY4Q10 EPS estimate from $5.20 to $5.60; FY11 EPS from $18 to $20; and FY12 EPS from $21.35 to $24.

Deutsche maintains a "Buy" rating on Apple, which was trading at $329.84, up $0.27, or 0.08 percent, as of 11:55 AM EST. They boosted their price target on Apple from $375 to $410.