FBN Securities Raises AAPL PT To $550

FBN Securities has issued a report raising the Price Target on Apple AAPL from $500 to $550 a share. According to the report, "The company blew past consensus expectations with revenue of $28.5B (up 82% Y/Y, ahead of $25.0B consensus and $23B guidance) and NG EPS of $7.79 (up 122% Y/Y, ahead of $5.85 consensus and $5.03 guidance)." AAPL is rated Outperform and closed yesterday at $376.85 a share.