Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Raising PT & Estimates

Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL), raises PT to $510.

Canaccord analyst, T. Michael Walkley, says, "Apple posted impressive June quarter results driven by strong iPhone 4 and iPad 2 sales. Further, sales in the APAC region increased 247% YoY. We anticipate continued strong earnings growth for Apple, and it remains one of our top picks...As such, we are raising our F2011 pro forma EPS estimate from $24.62 to $26.35 and F2012 estimate from $29.30 to $30.04."

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

Shares of Apple closed at $376.85 yesterday.

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