RBC says Apple will sell 70 million iPhones in 2011

RBC Capital Markets Managing Director Mike Abramsky is loving Apple these days. He has raised the stock target by $30 to $395 and with Apple announcing their quarterly earnings next week he believes the holiday period helped them increase 84% from last year to a new sales record 16 million devices (old record was 14.1 million). As for the outlook for the 2011 calendar year, Abramsky says Apple will sell a whopping 70 million iPhones (represents 19% of the global smartphone market).

Source: Apple Insider
Via: BGR