In his second note to clients in as many days, Deutsche Bank’s Chris Whitmore raised his price target for Apple (AAPL) to $375 — “the highest we’ve seen to date,” says “Fortune” (http://tech.fortune.cnn.com/2010/06/22/new-high-apple-price-target-375/?source=yahoo_quote).
“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.”
As for the iPad, Whitmore notes that shipping lead times are still 7-10 days and that despite improving supplies, stock-outs across Apple’s “retail footprint” continued into June.