Piper Jaffray Reiterates Overweight on Apple Following iPhone Launch Surveys

In a report published Tuesday, Piper Jaffray analyst Gene Munster reiterated an Overweight rating and $640.00 price target on Apple AAPL. In the report, Piper Jaffray noted, “As we continue to expect an iPad event in the coming weeks, we believe it is useful to revisit some of the highlights regarding iPad ownership and purchase intent from our recent iPhone launch surveys. The infographic on the second page represents how iPad ownership and interest has changed over the past year between the iPhone 5 and iPhone 5S launches. We maintain our Overweight rating and $640 price target on shares of AAPL.” Apple closed on Monday at $96.04.