Kaufman raises AAPL target to $374

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]

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions