UPDATE: Wedbush Raises Apple's PT

According to a research report published this morning, Wedbush has increased Apple's

PT from $750 to $800. Wedbush said in the report, "Given another blowout quarter, driven by robust iPhone sales, and solid iPad and Mac growth, upcoming product catalysts, and reasonably valuation at 8.5x adjusted CY13E EPS, Apple remains a top pick and on our Best Ideas list. While the next two quarters may be choppy, with a Mac refresh and likely introduction of an integrated Apple TV product, we recommend investors be positioned ahead of what will likely be a monster iPhone 5 upgrade late 2012." Wedbush maintains its Outperform rating on Apple, which closed yesterday at $560.28.