Needham & Company Maintains a 'Buy' on Apple (AAPL); Raising Estimates on Stronger than Forecast iPad and Mac sales

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Needham & Company maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $450.
Needham analyst says, "We’re raising our Apple revenue and earnings per share estimates. We’ve increased our fiscal 2011 estimate from $23.90 to $25.00 and our 2012 estimate from $28.05 to $30.00...We’ve fine-tuned our fiscal third quarter, 2011 and 2012 revenue and earnings estimates chiefly to reflect higher than previously forecast iPad and Mac shipments."

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

Shares of Apple closed at $332.04 yesterday, with a 52 week range of $235.56-$364.90.

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