Piper Jaffray analyst Gene Munster has raised his target price on Apple stock from US$330 to $348 due to higher expectations for iPhone unit sales in the June quarter, as reported by “Barron’s” (http://macosg.me/2/e1).

Munster has increased his forecast for iPhone sales in the quarter to 9.5 million, from 8.5 million, adding $610 million in revenue and 12 cents a share to his financial estimates. The analyst is forecasting $15.01 billion and $2.88 a share. He also lifted his unit forecast for the September quarter to 9.5 million units from 9 million.