In the wake of Apple’s stellar earnings announcement last week, shares of APPL have skyrocketed into the $450 range. In doing so, Apple has surpassed Exxon as the most valuable company in the world.
What’s scary, though, is that Apple still has plenty of room for grow. Apple’s share of the phone and PC market is still relatively small, and if Apple is making this much money via iPhone and Mac sales right now, imagine what’ll happen once their marketshare really starts to take off.
What’s more, Apple is on the cusp of really making significant inroads into China. Over the past few months, for example, there’s been a marked increase in the number of rumblings concerning Apple getting the iPhone onto China Mobile, the largest cell carrier in the world. There have also been credible reports surrounding the iPhone potentially coming to China Telecom.
Honing in on the potential for Apple to vastly expand their reach into China, Morgan Stanley analyst Katy Huberty recently issued a research note to clients highlighting China’s growing middle class and concluding that Apple’s iPhone sales in China might soon reach 60 million units per year.
Fortune’s Philip Elmer De Witt breaks down Hubert’s analysis over here.