World of Apple is reporting that Katy Huberty, the head Apple analyst for Morgan Stanley had a chance to meet with Apple’s Peter Oppenheimer (CFO), Ron Johnson (SVP Retail), and Eddy Cue (VP of Internet Services). The meeting of course revealed no company secrets, but did leave her with “increased confidence” in the company.
In fact, the only information she got out of them, was stuff we’ve hear before which boils down to one line: iPhones everywhere. Apple is looking to get iPhones in more hands, and will do this by building bigger retail stores, and opening more of them at a faster interval. They did hit however, that product cycles are more driven by software than by hardware. (This lately suggests that the iPhone was delayed due to software. I still think it was intentional.)
At any rate, Huberty puts a target price of $540 on Apple shares as time moves forward due several factors. These are: LTE iPhones (dubious at this point) and cheaper 3G models in 2012. The expansion of the tablet market, with Apple dominating. More sales in China. And Apple possibly entering the TV market in 2012-2013. That $540 mark is also based on 55% iPhone growth for two years, 74% growth for iPads, and 17% Mac growth in the same time period.
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