Wall Street investment banks have raised Apple Inc.The target share price of the company. Apple Inc reported record quarterly results after trading on Wednesday, with revenue of $100 billion in the first quarter of fiscal 2021 and double-digit percentage growth in each product category.

Morgan StanleyApple Inc maintained its outperform rating and raised its target price from $152to $164m. Analyst Katy Huberty said the broad rebound in revenue in Greater China indicates continued growth in participation and market share.

Piper Sandler overrated Apple Inc, raising its target price from $135to $160. analyst Harsh Kumar stressed that the company achieved double-digit revenue growth in all categories, especially iPhone revenue growth of 17% year-on-year, indicating strong demand for iPhone 12. Kumar pointed out that gross profit margin in the first quarter was much higher than expected due to increased revenue and improved product mix, and Apple Inc's profit margin forecast for the current quarter was basically flat.

Evercore gave Apple Inc an outperform rating, raising its target price to $163from $160. analyst Amit Daryanani said Apple Inc did not need to be mentioned on Reddit to achieve such a strong performance. Daryanani said its gross margin had potential room to rise. But he believes that the lack of guidance on sales of iPhone and Mac suggests that substantial growth in these markets has been offset by a modest slowdown in services and wearables.