Where Does Apple Go In 2011?

This may sound like a silly topic, but given the fact that Apple AAPL is now the number two company in the world by market cap, it's going to be that much harder to move the stock higher. If Verizon VZ doesn't get the iPhone as many expect, does Apple get crushed? What if iPads don' sell as well as everyone is thinking? Apple is a cheap growth company when you take out the tremendous cash it's holding, but it's psychological impact on the markets is ultimately more important than many other "so-called" market leading stocks. Apple is seen as a proxy for the consumer, as it's a hot, sexy name and everyone and their brother wants to own an iPod, iPhone, and an iPad. All companies eventually hiccup, even if it's just for quarter or two. I'm not wishing for Apple to make a mistake, but if it does, look out. I can't imagine the headlines that day and the subsequent days after should Apple actually make a mistake. Barring a mistake like this, Apple should continue to move higher, for reasons mentioned above (valuation, explosive growth, brand cache). Many analysts on the Street have ~$400 price targets on the name, implying roughly 25% upside from current share levels. These price targets do not seem out of touch with reality, and Steve Jobs and co. should see the $400 mark sometime in 2011. Just don't screw up Steve. Disclosure: no position in AAPL