Financial Report: 70 Million iPhone Sales Can’t Be Wrong

 
Apple is expected to sell a crapload of iPhones in 2011.  In other news, the sun rises in the east.

Sarcasm aside, Mike Abramsky of RBC Capital Markets is forecasting a banner year for iPhone sales, due in no small part to their February '11 debut on the Verizon network.  Abramsky predicts that Big V will move 3 million "vPhones" in the second quarter alone, with a total of 9 to 10 million by year's end.  Add in the expected mid-year release of the iPhone 5G, and we're looking at 70 meeellion iPhones sold this year alone — a globel smartphone market share of 19%.

As for Apple itself, Abramsky expects the House of Jobs' 2011 revenue to hit a whopping US$91 beeellion.  In keeping with that forecast, he raised RBC's target for Apple stock thirty bucks to US$395.00.

[Via Boy Genius Report]