Edible Apple

Morgan Stanley analyst Kathryn Huberty doesn’t exactly have the best track record when it comes to Apple, but her latest report is worth taking a look at, if only for here unusually optimistic take on Apple’s stock price.

In a recent report, Huberty laid down 3 varying scenarios for Apple’s stock price in 2010 (bear, base, and bull).  Given Apple’s recent success, and the company’s outlook going forward, Huberty herself is partial to a bullish Apple in 2010, and sees its share price falling somewhere in between $325 and $435 a share in the next 12 months.

In her base case scenario, Apple’s share price will hover around $230 in 2010.  And assuming that the iPhone loses some of its sheen, Hueberty’s bear case scnario has Apple’s stock heading all the way down to $150 a share.