Piper Jaffray has raised the price target on shares of AAPL to US$429 following yesterday's financial report from Apple. The company posted its first $20 billion quarter, beating expected earnings.
In addition, Piper Jaffray raised FY11 revenue growth rate from 24% to 32%. In a note to clients issued today, Jaffray said, "While shares of Apple may pull back today (10/19), we would be buyers based on our belief that investors will gain optimism over the next three months that the growth story will continue."
Indeed there was a bit of a pullback, as
