UPDATE: Canaccord Raises Apple's PT

According to a research report published earlier today, Canaccord has increased Apple Inc.'s

PT from $665 to $710. In the report, Canaccord said, “Since we attended the iPad launch last week, our checks have indicated record pre-orders with wait times for shipping iPad models now reaching 2-3 weeks. Given the new iPad's leading hardware specs and iOS developer and application ecosystems versus all tablet competitors, we anticipate Apple will continue to dominate both market and value share of the growing tablet market in C2012-13. We reiterate our BUY rating and raise our price target to $710 due to our increased iPad estimates. Apple remains a top pick.” Apple is currently trading at $578.71.