Apple's (NASDAQ:AAPL) Relationship with Verizon (NYSE:VZ) Growing on Goldman (NYSE:GS)

As the process concerning the release of the Apple (NASDAQ:AAPL) iPhone on the Verizon (NYSE:VZ) network plays itself out, Goldman Sachs is growing increasingly confident on the relationship between the companies.

The iPhone for Verizon will be sold for $1.99 for the 16 gigabyte device, and for $299 for the 32 gigabyte iPhone.

With their growing confidence, Goldman raised their full year 2011 EPS/revenue estimates from from $21.46/$97.88 billion to $23.05/$102.12 billion. For full year 2012 they bumped them from from $25.75/$113.61 billion to to $27.82/$119.65 billion.

Units expected to be sold was also increased for full year 2011 from 62.78 million to 69.68 million and for full year 2012 from 80.41 million to 91.45 million.

Goldman maintains their "Conviction Buy" rating on Apple, which was trading at $343.54, gaining $1.90, or 0.56 percent, as of 12:09 PM EST. Verizon was trading at $35.49, up $0.13, or 0.38 percent.