Record sales of 60 million iPads and 134 million iPhones in calendar 2012 will help push Apple's stock price up to $718, a new forecast predicts.



From AppleInsider:

Analyst Gene Munster with Piper Jaffray upped his price target for AAPL stock to $718 on Thursday, a day ahead of the new iPad launch in the U.S. and 9 other countries. Munster previously predicted that Apple will sell at least a million of the new iPad in the first 24 hours.

This year, he believes Apple will sell a total 60 million iPads, which would be a nearly 50 percent increase from the 40.5 million tablets Apple sold in 2011. By 2015 he expects Apple will sell 176 million iPads in a single year, while still controlling 60 percent of the market.

  Apple stock seen hitting $718 on sales of 60M iPads, 134M iPhones in 2012