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The Stalwart submits: Despite the fact that Apple (ticker: AAPL) has never expressed any interest in developing their own phone, analysts are always convinced that one is right around the corner:

    Gene Munster of Piper Jaffray maintained an "outperform" rating on Apple Computer and raised his price target on the company in anticipation of continued iPod and Mac innovations and a possible "iPhone" in the next 12 to 18 months.

    "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," said Munster. "We believe Apple has a foundation in place to be the hub for consumer digital media."

Foundation in place to be a hub in consumer digital media? He must be talking about their 5% market-share in computers placing them around the same level as Gateway. What Gene Munster is actually saying is that you should buy Apple based on pure speculation and unknown events in the future.

Furthermore, with regards to the iPhone, I'd be surprised if Motorola would invest so much into new iTunes-models without some sort of agreement that Apple not preempt them with their own phone.

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Source: Apple iPhone Around The Corner? (AAPL)