Apple is expected to sell 10 million iPhone units in 2008 and already has a 19 percent market share in the smart phone arena. A new model of the iPhone sometime this fall and the release of G3 technology will undoubtedly push the iPhone over that marker. Since Apple is not the type of company to give estimates it cannot beat, the real numbers should only be higher. I’m confident the upcoming holiday season should drive sales 1.5 to 2 times the amount of other quarters. Also, look forward to WWDC where Steve Jobs will most likely unveil iPhone 2.0 with .Mac syncing.

Now on to technical analysis. Apple is very attractive even after its recent 3 month (30%) run up. In fact, I feel that Apple is forming a beautiful cup and handle formation that will see another 20-30 point run up in the next 2 months. Also, the stock has formed a golden cross in May and it seems that the consolidation period is over. Finally, the stock has been trading over its 50DMA and 200DMA.

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