Piper Sandler analyst Harsh Kumar raised the firm's price target on Apple (AAPL) to $450 from $310 and reiterates an Overweight rating on the shares.

Apple last night reported solid June quarter results, handily beating consensus estimates, Kimar tells investors in a research note. Similar to last quarter, the company did not provide September quarter guidance given the coronavirus uncertainty and variability in operations, adds the analyst.

Kumar believes the business is "holding up extremely well, with the pandemic having little impact on the core business."