Lo and behold, the $400 club for Apple shares continues to grow with the newest addition being JP Morgan analyst Mark Moskowitz. With so much room for growth ahead, Mowkowitz writes that Apple shares will hit $420 in 2011.
“While the iPhone and iPad are expected to be the biggest contributors to revenue growth in the near to mid term,” Moskowitz explains, “the Mac business is expected to be an important contributor as well. By the end of (fiscal year) 2011, we expect the Mac to regain prominence in the Apple growth story as the company addresses the multi-billion dollar opportunity in the Target Zone of PCs.”
Also a factor, naturally, is the impending release of the iPhone on Verizon, which Moskowitz anticipates will do gangbusters and will ultimately add an impressive $1.25 to Apple’s annual EPS.
On a product by product basis, Moskowitz anticipates Apple will sell 60 million iPhones in 2011, 46 million iPods, and 17.3 million Macs.