.

Fortune reports on a research note put out by Morgan Stanley’s Katy Huberty in which she raised Apple’s price projections from $515 to $720. She noted, however, $960 was the bull valuation for AAPL out over the next year.

The reason for such a high valuation:

More information is available at Fortune.

    1. Enterprise tablet adoption combined with demand upside from lower-priced iPad.
    1. iPhone estimates don’t credit Apple for the potential share gains when it launches an LTE-capable device in 2H12.
    1. China and other emerging markets, like Brazil, remain huge untapped markets.

Update: AAPL is skyrocketing, up over 2% on the news.

  • iPad 3 press invite and favorable market push AAPL toward half a trillion market cap (9to5mac.com)
  • Tim Cook unloads $11 million in AAPL stock (9to5mac.com)
  • AAPL passes 10% of all of NASDAQ value as analysts target half a trillion dollar valuation (9to5mac.com)