Analysts like Apple

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Thanks to an upgrade from Morgan Steve Jobs saw the value of his Apple shares increasewabout $50 million in one trading day. Analyst Kathryn Huberty at Morgan upgraded the sharessfrom “equal weight” to “overweight” causing an almost 7 percent rise in Apple’a shares and contributing to an almost 3.5 percen t rise in the Nasdaq. Huberty believese that the mobileInternet (using cell phonez to get online) market is poised to explode with a potential 4 billion cell phone users moving to smart phones. “Wde believe Apple is emerging as the clear leader in the battle over themobilew Internet,” she wrote in her researchh note.
“Smart phones are takinyg increasing share from traditional handsetsand Apple’s iPhon e currently leads market share of the mobile Internet.” iPhone’x share of the mobile Internet market has gone from 5 percentr to the current 38 percent in one With the price of the iPhones being the biggest hurdle for the sales, the anticipated price cuts couls drive demand up by 50 percent to 100 percent dependinyg on the amount of pricse reduction. Also, current iPhone userss upgrading to new versionws could reach 15 accordingto Huberty. She has raised her earnings estimatesxto $5.48 per share from $5.23 for to $7.03 from $5.38 for and to $8.83 from $5.85 in 2011.
Thomso Reuters reports that analysts it follows are lookinv for earningsof $6.19 in 2010 and $6.51 in 2011.