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Morgan Stanley analyst Katy Huberty tells clients in a research note that China represents Apple’s next major geographic growth opportunity, and that Apple's plan to open 25 retail stores in China, announced during its shareholders meeting in February, could help drive Apple's share price — in her "bull case" scenario -- as high as US$435 within a year.
As reported by "Fortune" (http://macosg.me/2/0m), Huberty expounds a positive correlation between Apple store expansion and the increase in Mac market share. Correlation does not mean causation, of course, but the trends do seem clear, notes "Fortune."
Apple opened 123 stores in the U.S. between Sept. 2003 and Sept. 2009 while the Mac's domestic market share grew from just over 3% to as high as 9% (before dipping below 8% last summer).