UBS analyst Maynard J. Um, in a report to investors on Thursday, obtained by TMO, said that the ability of Apple and Verizon to reach an agreement on iPad sales in Verizon stores gives credence to the idea that a CDMA iPhone is coming in 2011. He predicts CY first quarter.
An addition, Mr. Um noted that supply constraints are easing for both the iPad and the iPhone as we move into the holiday quarter. Accordingly, Apple has aggressively expanded its distribution of iPads to Verizon and AT&T wireless stores, Wal-Mart (starting Friday), and previously, Best Buy and Target.
Both the iPad and the iPhone 4 are expected to be two of the most heavily gifted items, in addition to iPods, during the holiday season.
Mr. Um has placed a target price on Apple stock [AAPL] at US$350.00. His prediction for Apple fiscal year revenues, ending in September 2010 is US$63 billion dollars and for 2011 is US$81 billion dollars.