Canaccord Reiterates Buy, $560 Target on Apple

Canaccord maintains its Buy rating and $560 price target on Apple, Inc.

as checks indicate iPhone share gains. Canaccord says, “Our November checks indicated iPhone sales remained strong in the US, particularly at AT&T and Sprint. Further, our checks indicated strong global share gains. With the iPhone 4S launching in new markets including China, Brazil, and Russia during December, we anticipate strong December quarter iPhone sales and increased our estimate from 29.0 to 30.5M units.” AAPL closed at $393.01 per share on Monday.