Edible Apple

Needham & Company analyst Charlie Wolf wrote in a note to investors today that Apple’s stock is poised to hit $280 on the strength of stronger than anticipated Mac and iPhone sales. Wolf also anticipates that the upcoming iPad will be a significant revenue stream.

Some other variables factoring into Wolf’s stock projection include Apple’s massive stockpile of cash, which now totals $39.8 billion and continues to rise unabated from quarter. Also, Wolf sees a CDMA version of the iPhone serving as a boon to Apple – though recent reports have indicated that the iPhone will remain an AT&T exclusive until 2011.

via AppleInsider