Rodman & Renshaw Comments On Apple's September 2011 iPhone 5 Release

Rodman & Renshaw has published a research report on Apple AAPL in anticipation of the company's launch of the iPhone 5 in September 2011. In the report, Rodman & Renshaw writes, "While credible data points on hardware specifications are scarce, we speculate the form factor will be a scaled down version of iPad 2. At the end of June quarter, Apple had 19% smartphone share on a sell through basis with the iPhone now available through 228 carriers in 105 countries. With the launch of iPhone 5, iPhone could represent 1:5 smartphones shipped by year-end. With iPhone contributing to 55% of Apple's profit, earnings growth trajectory could reaccelerate." Rodman & Renshaw maintains its Market Outperform rating and $450 price target on Apple, which closed Friday at $390.48.