Apple remains in pole position to monetize the revenue opportunity for mobile Internet devices. The known unknowns are the downside to Mac and iPods. Our target of $170 is 20 times our fiscal 2010 earnings-per-share estimate of $7.15 plus about $27 in net cash per share. Technically, the stock has broken through the $107-$138 trading range and does not run into overhead supply until our price target. Risks include continued weakness in Mac shipments from paucity of value mix. Additional uncertainties are margin pressure from higher component costs and lack of price moves in iPhones.
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]