J.P. Morgan, this morning, upped its estimates on Apple, and bumped up the stock from a neutral rating to outperform. In the research note, J.P. Morgan noted that Apple’s product lineup is as diverse as ever, and that the staying power of some of its products has been underestimated. This makes sense when you consider that the iPod, by most accounts, should already be dead by now. But Apple is somehow able to churn out millions and millions of iPod sales even in a saturated market through small upgrades that appeal to consumers. The report from J.P. Morgan goes on to state that Apple should be relatively protected from many of the earnings re-evaluations that are likely to hit other hardware manufacturers as a result of the current economy.