Surprise! Oppenheimer is Bullish on Apple (AAPL)

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Stellar, blowout March numbers reported by Apple (NASDAQ: AAPL) have most analysts digging in on their long Apple plays, and Oppenheimer is no exception. Today they maintained their OUTPERFORM rating and $700 price target.

Strong iPhone shipments of 35.1M, supported by a strong China contribution of $7.9 billion in sales, have supported the stock price. Regarding China Mobile, analysts at Oppenheimer think the market is relatively untapped.

On the US front, iPhone sales probably won’t knock the cover off the ball, but the iPad still has plenty of upside in terms of volume.

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 $560.28 yesterday, with a 52 week range of $310.50-$644.00.

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