JP Morgan On AAPL In CDMA Market

JP Morgan has issued a report regarding Apple's AAPL growth opportunity in the CDMA market. According to the report, “We believe that CDMA market penetration represents a multi-billion dollar revenue opportunity for Apple. In 2012, we estimate that Apple could capture $6.0 billion in revenues from the Verizon opportunity (mostly in our model) and $3.0 billion from non-Verizon CDMA penetration (not in our model).” AAPL is rated Overweight and has a $450 Price Target. AAPL closed at $330.80 yesterday.