Wells Fargo: New iPhone Launch to be Biggest in History

Wells Fargo analyst Maynard Um resumed coverage of Apple this week, and said that the 2012 iPhone refresh will be the biggest product launch in consumer electronics’ history.”

Analyst: Next iPhon launch to be biggest ever.Analyst: Next iPhone launch to be biggest ever.

Along with a new iPhone this fall, Mr. Um expects “Apple to refresh a number of products in its portfolio including… iPad mini, iMac, Mac Pro, and various iPods. We expect the new MacBook Pro releases to help drive units and revenue with modest offset on gross margin.”

He added that if Apple is working on its own HD television it won’t likely ship until the third quarter of 2013 at the earliest.

Mr. Um has an “Outperform” rating and US$640 to $660 target range for Apple’s stock. Apple is currently trading at $568.93, down 5.57 (0.98%)