Gene Munster Says Apple (AAPL) Has Rebounded Fast

Piper Jaffray's Gene Munster says Apple (Nasdaq: AAPL) has rebounded and rebounded fast. Munster is mystified as to how Apple has been able to maintain its margins of 36.3% up from 34.3% in the year-ago quarter. Munster was also impressed with Apple selling 2.6 million Macs, which is up from his previous estimate.

Munster said he would continue to be a buyer of Apple stock in $150+ range. Oh, on one final note, Apple's quarterly iPhones sold were 5.2 million, representing 626% unit growth over the year-ago quarter.

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