UPDATE: Sterne Agee Raises PT to $750 on Apple - Apple (NASDAQ:AAPL)

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Sterne Agee increases its price target on Buy-rated Apple (NASDAQ: AAPL) 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.

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