Gene Munster, an analyst at Piper Jaffray Cos., talks about the outlook for the release of Apple Inc.’s next iPhone.

Munster believes that Apple’s next-gen iPhone will debut in October for the Christmas shopping season with 4G LTE (using Qualcomm’s 28nm chip, due to ship in quantity ion late 2012).

Munster says that the next-gen iPhone will be “the mother of all upgrades” and “there’s going to be lines around shopping malls to get this.”

Munster’s AAPL price target is $1000.

He speaks with Jon Erlichman on Bloomberg Television’s “Bloomberg West.”

Source: Bloomberg

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