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Is Apple the Most Valuable Company In the World?

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APPLE $500
Apple found another fan on Wall Street.

Credit Suisse has initiated coverage on Apple with an Outperform rating and $500 price target.

Analysts there said the company can deliver outsized revenue and earnings growth of 50% and 46%, respectively, over the next two years, which is significantly ahead of consensus expectations of 24% growth in fiscal year 2012.

Credit Suisse estimates that Apple's smartphone share should continue to rise to 20% in 2012 driving volumes of 72 million and 112 million in fiscal years 2011 and 2012, respectively, with revenue of $47 billion and $67 billion.

How about the iPad? It should become a $34 billion business by 2012, the analysts said.

Shares of Apple this morning are trading at $330, with a 52 week range of $199 and $364.

Of the 56 analysts with ratings on the stock, 51 have a Buy on the shares and 5 have a Hold, according to Bloomberg data.
POSITION:  No positions in stocks mentioned.