Goldman (GS) Boosts Apple (AAPL) Estimates After Unveiling iPad 2

Goldman Sachs (NYSE:GS) increased its EPS estimates on Apple (NASDAQ:AAPL) after the company unveiled the highly anticipated iPad 2.

Goldman said, "The new device offers significant upgrades from the prior version, which we believe should provide an early line of defense against the wave of tablet competitors arriving in the coming months.While these features were largely in line with expectations, the new iPads will ship earlier than the widely anticipated late-March/early-April time frame. We are maintaining our unit estimates due to our view that the iPad 2 will accelerate Apple's competitive momentum in tablets."

Gold raised its estimates for the full year 2011-13, now seeing revenues this fiscal year of $100.4 billion and EPS of $23.29, an increase from $99.37 billion and $23.07.

For 2012, Goldman sees revenue of $122.68 billion and EPS of $28.61, up from a previous view of $119.79 billion and $27.98. In 2013, Goldman sees Apple with revenues of $134.85 billion and EPS of $31.32, up from $131.63 and $30.56.

Goldman maintains a "Conviction Buy List" rating on Apple, which was trading at $358.55, up $6.43, or 1.83 percent, as of 11:21 AM EST. They have a price target of $450 on Apple.