“The iPad, a product that didn’t even exist a year ago, is expected to cause nearly 50 percent of all growth for Apple in fiscal year 2011, according to one Wall Street analyst,” Neil Hughes reports for AppleInsider. “Robert Cihra with Caris & Company issued a note to investors on Friday noting that Apple’s growth is ‘stunning.'”
“Cihra sees the iPhone accounting for more than 40 percent of Apple’s fiscal year 2011 growth, with 64 million units sold,” Hughes reports. “He also sees another 5 percent expansion in the company’s bottom line thanks to the Mac platform, where he sees sales increasing 19 percent year over year. Accordingly, Caris & Company has raised its price target for AAPL stock to $400, up from its previous projection of $375.”
Hughes reports, “Looking forward, Cihra sees iOS becoming “one of the world’s most pervasive operating systems,” thanks to an estimated total of 157 million iOS devices sold to date at the end of calendar year 2010.”
Full article here.
[Thanks to MacDailyNews Reader “GetMeOnTop” for the heads up.]