NEW YORK (TheStreet) -- Analysts at Canaccord increased their price target on Apple Inc. (AAPL) to $710 from $660 on Tuesday, saying "WWDC takeaways and May wireless surveys indicate Apple is positioned for a very strong iPhone 6 cycle upgrade."
On Monday, Apple held its annual Worldwide Developers Conference where it announced a number of new products including iOS 8 and the Mac OS X 10.10 Yosemite.
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Shares of Apple are down -0.12% to $627.87 in pre-market trading today.
Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."