BTIG Maintains a 'Buy' on Apple (AAPL); Raising iPhone Sales and Q4 EPS Estimates

January 5, 2012 9:55 AM EST
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Price: $120.00 +0.81%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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BTIG maintains a 'Buy' on Apple (NASDAQ: AAPL) price target raised from $550 to $580.

BTIG analyst says, "We now believe that Apple sold a record 35 million phones in the calendar fourth quarter based on particularly strong demand in the United States that we estimate will represent nearly 40% of iPhone sales in the quarter. As a result, we increased our Fiscal Q1 EPS estimate for Apple by $0.50 to $10.00 which is above guidance of $9.30 and consensus of $9.83. We also increased the number of iPhones that we expect Apple to sell in calendar 2012 by 17% to an impressive 125 million from 107 million as more and more countries enter the sweet spot in the consumer adoption curve of smartphones."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $413.44 yesterday.

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