Cites better availability of iPad screens and continued strong demand
Kaufman Bros. Shaw Wu raised his Apple (AAPL) price target Monday from $350 to $374. In a note to clients he ticks off his reasons:
- Strong demand for iPads and improved availability. “This alone is enough to drive significant upside to consensus estimates,” he writes.
- Slight cannibalization of low-end MacBooks in what is otherwise a strong Mac quarter helped by continued MacBook Pro momentum and faster new iMacs introduced in late July
- Strong momentum for the iPhone “with little to no impact from antenna concerns” although tight supply of small screens could limit upside
- Strong iPod momentum helped by the new iPod touch, a redesigned iPod nano and a new shuffle
[Follow Philip Elmer-DeWitt on Twitter @philiped]