UPDATE: Sterne Agee Raises PT to $750 on Apple

Sterne Agee increases its price target on Buy-rated Apple

from $740 to $750 as it references checks indicating that concerns of weakness in iPad momentum are misplaced. Sterne Agee says, "What we are picking up are strong follow-up demand trends for the new iPad despite a very strong start of 3 million units sold in the first few days. We believe this is likely because the new iPad is a significant upgrade with an HD retina display, quad-core graphics, and 4G LTE wireless. In addition, the price cut on the iPad 2 appears to be helping as well." AAPL closed at $628.44 a share yesterday.