Apple’s EPS, Share Estimates Raised at UBS on ’Strong Demand’

Apple Inc., the maker of iPhones and iPads, had its share-price and profit estimates raised at UBS AG because of demand for the company’s products.

UBS, which has a “buy” rating for Apple, raised its share-price estimate to $350 from $340. Earnings per share forecasts also rose to $14.51 in 2010 and $18.09 in 2011. The previous estimates were $14.50 and $16.62, respectively.

“Momentum continues,” UBS’s New York-based analyst Maynard Um wrote in a note dated yesterday. “We remain bullish on iPad momentum and demand. Our retail checks indicate that demand for the iPhone 4 remains robust.”

Apple shares gained 2 percent to $262.91 at 11:37 a.m. in New York.

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