Apple Surging Today After Deutsche Bank Raises Price Target To $375 (AAPL)

Deutsche Bank DB analyst Chris Whitmore has raised his price target on Apple AAPL shares to $375.00, the highest on the Street. "Apple is beginning the strongest product cycle in the company's history, led by the iPad and iPhone 4 release later this week," he writes. "Initial demand for the new iPhone is incredibly robust based on initial demand indicators including: pre-orders, search trends and supplier checks." During the current trading session, AAPL shares have gained 1.24% to $273.51. The 52 week high in the stock is $279.01. The company now has a market cap of $248.88 billion. AAPL is trading at a trailing P/E of 23.21, a forward P/E of 17.30 and a PEG ratio of 1.23.