NEW YORK (TheStreet) -- Shares of Apple (AAPL) are up 0.28% to $113.26 in pre-market trading after Oppenheimer reiterated its "outperform" rating, its $130 price target and raised its estimates for FY2015 and FY2016 revenue and earnings per share.
"We update our AAPL numbers based on strong iPhone [6 and 6 Plus] sales momentum and renewed outlook on Apple Watch. Apple remains our top pick in the handset value chain," Oppenheimer said.
Analysts provided the following Apple model changes: FY15E and FY16E revenues/EPS to $221 billion/$7.85 and $235 billion/$8.83 from $220 billion/$7.80 and $229 billion/$8.58, respectively.
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Separately, yesterday, Apple released its first-ever automated security update to Macintosh computers to help defend against newly identified bugs that security researchers have warned could enable hackers to gain remote control of machines, Reuters reports.
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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."