“I suspect the majority of [Apple's China] sales came from just the 4 Apple-owned stores,” Eric Jackson blogs for Forbes. “If that’s true, it would be astounding: 4 stores accounting for at least $1.3 billion in sales in the quarter. That would mean each store is on a $1.3 billion annual revenue run rate.”

“With only 4 stores in Asia and the Chinese gaga for Apple, you would think the company would be building more stores and they are. The company plans to boost the total to 25, with new stores scheduled to open later this year in Shanghai and Hong Kong,” Jackson writes. “50% of $2.6 billion is $1.3 billion or $325 million per store per quarter. That means the planned 25 stores could be selling $32 billion a year. And we haven’t counted third-party, carrier and online sales.”

Jackson writes, “With just the existing planned China stores described above and 30% growth in their rest of world business from last year, it is indeed very possible that Apple can do $117 billion in 2011… In 2010, Apple did $65 billion in revenue (through end of September 2010) for the year and $14 billion in net income. Assume the same margin on $114 billion and you get to $24.5 billion in net income for this calendar year (2011). Assuming the same trailing 20x P/E which Apple has now, and Apple’s stock price by the end of January 2012 will likely be $547/share.”

Read more in the full article here.

[Thanks to MacDailyNews Reader "Jen" for the heads up.]