Analysts Ponder iPhone Earnings, Raise Apple Price Estimates

From Seeking Alpha: analysts advise investors to "start looking at cash earnings rather than traditional income statement earnings" when trying to figure out Apple's profit from the deferred revenue. There's also a slew of new stock price estimates from analysts--all over $200.

I've been trying to figure out how high Apple could go. If they captured 20% share of the computer market, that'd be 3 to 4 times what they have now (~5%). With Macs representing 62% of their last quarter's revenue ($3.8 billion), that's a potential $15.2 billion for just one quarter ($3.8 bil x 4). Numbers like that combined with growing iPod and iPhone sales would exceed Microsoft's revenue. To match Microsoft's market cap, Apple's stock price would need to be around $330. That's an 80% increase from Apple's current stock price of $185. All potential factored in, Apple could double their stock price in a couple years.