Canaccord Genuity Maintains a 'Buy' on Apple (AAPL); Channel Checks Indicate Strong iPhone and iPad Sales

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Canaccord Genuity maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $421.

Canaccord analyst says, "Based on continued strong sell-through trends for the iPad and iPhone, we believe Apple will maintain both market and value share leadership in these fast growing markets...Based on our checks indicating strong iPhone and iPad trends, we are increasing our Apple F2011 EPS estimate from $18.33 to $18.84 and our F2012 estimate from $21.06 to $21.61."

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $316.40 yesterday, with a 52 week range of $188.68-$320.18.

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