"We raise our December quarter iPhone shipment forecast by 3 million units and March quarter shipment forecast by 2 million units for a total 5 million increase to F15 units (raising our forecast to 200 million from 195 million previously)," analysts said.
"Our estimate change is predicated on stronger than expected demand for the new iPhones and improved availability across the board for both the iPhone 6 and iPhone 6+. We reiterate our 'buy' rating on the iPhone super cycle and continued strength in gross margins," analysts added.
Additionally, the bank said its F15 revenue and EPS estimates were increased to $224 billion/$8.12 from $221 billion/$7.97, respectively.
Shares of Apple are down 1.22% to $113.66 in pre-market trading.
Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, notable return on equity and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."