Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Checks Indicate Strong Initial iPhone 4S Pre-orders, Legacy Model Sales

Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $545.00.

Canaccord analyst, T. Michael Walkley, said, "Our September checks indicated solid iPhone 4 sales at both Verizon (NYSE: VZ) and AT&T (NYSE: T) ahead of the iPhone 4S launch and very strong global sales with increasing international distribution. Further, our checks indicated very strong pre-orders of iPhone 4S at all three U.S. carriers during the first weekend of availability and strong sales of discounted legacy iPhone models at AT&T and Verizon."

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

Shares of Apple closed at $369.80 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• KeyBanc Reiterates Underweight Rating on Apple (AAPL)
• UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy