Wall Street praises Apple's "magical growth story"
Wall Street analysts have been greatly impressed by Apple's latest figures. Mark Moskowitz of J.P.Morgan said that, in Morgan's view, Apple is the "magical growth story" in large-cap tech. He confirmed that the iPhone and Mac momentum should keep investors interested, particularly as light iPad units in the March quarter related to launch timing and not demand.
Morgan Stanley's Katy Huberty believes Apple's earnings per share could reach $50 by 2013, while the stock price could be as high as $540 by the end of 2011. These are her "bull case" projections. Her "base-case" projection for the share price is $478 with a "bear case" at $270. Last night Apple closed at $342.41 per share.
Read the full story, with a table of revenue projections, here at AppleInsider.