10 Ways Apple Can Hit $1,000

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NEW YORK ( TheStreet) -- Setting a $1000 price target for Apple(AAPL) has become more is an easy way for a sell-side analyst to grab some quick publicity but that doesn't mean it's not worthwhile digging in on how that lofty number might be achieved.

Piper Jaffray analyst Gene Munster, who rates Apple shares at overweight with a $910 price target, has put forth a ten-step approach on how Apple can garner a trillion-dollar market capitalization, something that Greenlight Capital's David Einhorn highlighted recently at the Ira Sohn Conference.

Among the reasons that Munster cites in making the case for a $1,000 price target over the next few years are a slew of new products to be released this year, international expansion, and the continued growth of Apple's software strategy to put a stranglehold on customers to keep them from switching.

Here are ten reasons Apple could hit $1,000 over the next couple of years.

2012 product roadmap

Munster is especially positive on 2012 and the products Apple will release this year. Apple has already enjoyed tremendous success with the release of the new iPad in March. "We believe Apple's product roadmap for the remainder for the year will include meaningful updates to core product lines including the iPhone and Mac," Munster wrote in his research report.

He is expecting big things from the next version of the iPhone, and the eventual Apple television, but really believes the Mac refresh, expected in the next six weeks, could be huge.

Munster is looking for the Macs to have Retina Display, and include Intel's(INTC) Ivy Bridge chips, which are important updates. "We note this next Mac refresh would be the first meaningful update in over a year and should reaccelerate Mac sales, which were up 5% y/y in the March quarter," he said.

iPhone 5

Apple's next version of the iPhone is expected to be one of, if not the most anticipated product launch in Apple's history, given the rumors swirling around it.

The iPhone 4S was more of an evolutionary upgrade than revolutionary, but Munster expects a completely different design, despite worries over Qualcomm's(QCOM) shortage of 28 nanometer chips. He expects metallic rear paneling, the potential for a 4-inch screen, the ability to run on the 4G networks from Verizon(VZ) and AT&T(T) , a higher megapixel camera and a better processor and memory.

"We continue to believe there is an 80% chance that Apple can make our 49 million iPhone 5 unit estimate without supply difficulty in the December quarter."

Apple television

The prevailing rumor is that Apple will release a television set later this year that will revolutionize the industry. Munster believes that Apple could announce the product in December.