The firm said it raised its estimates on iPhone maker after its field work indicated that consumers are increasingly buying the higher memory iPhone 6 and 6 plus.
Citi analysts expect purchasing trends towards higher memory devices to drive stronger sales and margins.
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Citigroup also noted that it saw "signs of increased enterprises building apps native for iOS as well as non U.S. countries curiously watching Apple Pay to assess the traction in the U.S."
Shares of Apple are lower by 0.66% to $114.24 in pre-market trading today.
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."