Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL) After Channel Checks Say...

Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target of $710.00.

Analyst, T. Michael Walkley, said, "Our monthly channel checks indicated strong sales trends for the iPhone 4S at all three U.S. carriers and strong overall iPhone sales in international markets, with particular strength driven by the iPhone 4S launch at China Telecom (NYSE: CHA) and Unicom (NYSE: CHU). We maintain our belief Apple is well positioned for strong C2012/13 sales and earnings growth driven by new product introductions, including the new iPad, the pending refresh of MacBook Air/Pro, an LTE iPhone likely in Q3/C2012, and potentially Apple TV exiting C2012...With the recent dividend and buyback program likely to attract new investors, Apple remains a top pick."

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 $599.55 yesterday.

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