Apple Upgraded by JPMorgan on Very Strong iPad & iPhone Sales

JPMorgan Chase & Co. (NYSE:JPM) has raised its price projection on Apple Inc. (NASDAQ:AAPL) stock to $715 in a report that suggested the firm’s sales for the first quarter of the new year would be better than expected. The California company which dominates the smartphone and tablet computer market had it’s twelve month outlook upgraded to $1001 yesterday by Topeka. The new report suggests that Apple’s dominance is set to continue for the foreseeable future aided by a recovering US economy and increased sales of its products in China. The report which was sent to investors was penned by JPMorgan analyst Mark Moskowitz….