[Needham’s Charlie Wolf also raised his price target Monday, to $450 from $375, and Ticonderoga’s Brian White reiterated his $550 target. By 10 a.m. Apple was trading above $350 for the first time.]

In his first Apple (AAPL) supply chain check since Verizon (VZ) iPhone pre-sales began, Susquehanna’s Jeff Fidacaro has raised his Apple price target (to $465 from $445) and his sales estimates for the iPhone and iPad:

• iPhone: For the March quarter, he raised his iPhone shipment estimate to 19.8 million (from 17.7 million). For fiscal 2011, he’s looking for iPhone shipments of 76.7 million (up from 70.5 million), an increase of 92% year over year.
• iPad: His supply-chain sources suggest a build of 6.7 – 7.1 million iPads in the current quarter (2 million iPad 1s and the rest iPad 2s) and sales of 5.25 – 5.5 million units. The big bump comes next quarter, after what he believes will be the April launch of the iPad 2. He’s looking for sales of 8.5 million iPads (up from 6.5 million) in the June quarter and has raised his fiscal 2011 estimate to 32.1 million iPads (from 27.3 million), an increase of 330% year over year.

Apple shares finished the day Friday at $346.5, the second highest close on record.

Below: Details of Fidacaro’s iPhone analysis.

Also on Fortune.com:

• Verizon halts iPhone pre-sales
  
• iPhone sales in the AT&T era
  
• Apple’s blow-out quarter: The bloggers called it, the Street blew it

[Follow Philip Elmer-DeWitt on Twitter @philiped]