All that glitters is gold/Only shooting stars break the moldNEW YORK ( TheStreet) -- Spurred by the incredible demand for the iPhone 5s, particularly the gold model, Apple (AAPL - Get Report) sold more than 9 million new iPhone 5c's and 5's in its opening weekend, prompting a price target raise from Goldman Sachs analyst Bill Shope. Shope reiterated his "buy" rating and raised his price target to $560, up from $530, also raising his earnings estimates after yesterday's blowout results. "We are raising our estimates as a result of this significant upside," Shope wrote in the report. "In addition, while most investors seemed positively surprised by today's news, we also heard from the bears on the story and we address some of their concerns in this note as well."
-- All Star , Smash Mouth
Apple Gets Goldman Boost
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.