UPDATE: Sterne Agee Raised PT to $820 on Apple on iPhone 5 Timing - Apple (NASDAQ:AAPL)

27% profit every 20 days?

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Sterne Agee reiterated its Buy rating on Apple (NASDAQ: AAPL) and raised its price target from $780 to $820. Sterne Agee noted, "As we had commented before (see our 09/06/12 and 08/02/12 notes), timing is sooner than expected as most analysts didn't model shipments until the December quarter. As a result, we are raising our September quarter iPhone forecast to 26 million units (from 23 million). However, we are raising our December quarter forecast by only 1 million to 46 million (from 45 million) due to supplier checks indicating production constraints on new in-cell touchscreens."Apple closed at $669.79 on Wednesday.

27% profit every 20 days?

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