It's beginning to look like nothing can stop the rise of Apple's star this year. Despite, multiple lawsuits, the iPhone 4's antenna woes, leaked product snafus and the bad press surrounding a few of their suppliers, the speculated value of the company's stock shot up from $390 to $429 a share after yesterday's revelation of the Cupertino-based company's latest financial report.

In a statement released to their clients this morning, middle-market investment bank Piper Jaffray informed their clients of the following:

"While shares of Apple may pull back today (10/19), we would be buyers based on our belief that investors will gain optimism over the next three months that the growth story will continue. We are raising our FY11 revenue growth rate from 24% to 32% and our price target goes from $390 to $429. Key takeaways from the Sept. quarter include: adjusting for iPhone backlog in Sept. (we believe iPhone growth rate went from 61% in June to 114% in Sept).; Apple reported 4.1m iPads sold but we believe the true demand was closer to 4.5m; Street was disappointed with margins but we believe higher volumes are a net positive for the business."

The statement is pretty much a no-brainer. With iPad and iPhone 4 sales still raging away, and the possibility of any number of new products being unleashed on the purchasing public tomorrow, it's almost a certainty that the company's stock will continue to do well as we move closer to the upcoming holiday shopping season.

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