Credit Suisse Raises Numbers on Apple (AAPL)

Credit Suisse raised estimates on Apple (NASDAQ: AAPL) Thursday following strong results after the close.

The firm raised for FY11/12 by 2% to $25.70/$33.16, which is 11% and 23% above the consensus.

"We maintain that Apple should be able to deliver outsized revenue/ earnings growth of 48% over the next two years given a sustained competitive advantage in software, hardware and services/ apps ecosystem. On our CY12 estimate, Apple trades on a P/E multiple (ex-cash) of 8.1x, which is inexpensive, given the EPS growth of 48% over the next two years. "

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

Shares of Apple closed at $342.41 yesterday.

---

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

---

You May Also Be Interested In

• Cloudflare Inc. (NET) PT Raised to $330 at Citizens on Infrastructure Subsector Strength
• J.B. Hunt Transport Services (JBHT) Reiterated at Market Perform by Citizens
• Deutsche Bank Starts Regal Rexnord Corp (RRX) at Buy