UBS Maintains a 'Buy' on Apple (AAPL); Let Me Get A Q1...Supersized

UBS maintains a 'Buy' on Apple (NASDAQ: AAPL) price target boosted from $510 to $550.

UBS analyst says, "While we expected iPhone to drive 1Q due to a Holiday qtr launch & accelerated distribution, the magnitude of upside is quite impressive. iPhone has legs into Mar qtr as supply/demand remains imbalanced exiting Dec & continued int’l rollouts (i.e. China). iPad strength was encouraging in the face of lower cost competition (i.e. Amazon (Nasdaq: AMZN)), and an impending iPad 3 launch in Mar qtr should enable Apple to continue to drive growth and maintain shr in the tablet mkt. These trends along with iPhone 5 in 2H12 & further int’l penetration sets AAPL up nicely for 2012."

"Our FY2Q12E increases to $37.5b/$10.95 from $33.7b/$8.54 and FY12E rev/EPS increases to $161.2b/$46.09 from $142.7b/$35.83."

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 $420.41 yesterday.

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