Financial Analyst Predicts Apple Could Launch Branded 'IPhone'

Forbes.com reports that Gene Munster at Piper Jaffray has raised his price target on Apple's stock "in anticipation of continued iPod and Mac innovations and a possible "iPhone" in the next 12 to 18 months."

Munster said, "Despite a lack of hints from the company, we believe it is useful to hypothesize on new initiatives Apple may have in the works and take a look at which initiatives, if any, make sense for the company. We believe Apple has a foundation in place to be the hub for consumer digital media."

Munster expected Apple would continue with iPod "innovations leading to higher-capacity devices, wireless integration between devices, and the incorporation of DVR capabilities in the video iPod." He also predicted the "launch of an Apple-branded "iPhone" with iTunes capabilites."