AAPL Target Price Increases

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David Evanson and Mike Walkley

Forbes.com, Spring, 2012

Following Q2/F2012 earnings for Apple (AAPL) Canaccord Genuity technology analyst Michael Walkley reiterated his BUY rating on the company and raised his price target to $775 from $740. Mr. Walkley said:

“While our checks indicate slowing iPhone sales ahead of the iPhone 5 launch, we believe very strong international iPhone sales position Apple for very strong sales of an LTE iPhone 5 in the December quarter and beyond to drive strong F2013 earnings growth.”

He added, “We maintain our belief Apple is well positioned for strong sales and earnings growth driven by new product introductions across its portfolio, including iPhone 5 during this fall and iTV during F2013. Given our increased confidence of an iTV launch, we are adding iTV sales to our higher F2013 estimates.”