I no longer believe the speculation that Apple might exceed its projected 10 million unit sales. From what I have read, they are even pulling back on production a little to balance with demand. The iPhone will not improve revenue or profit for Apple to the extent that the iPod did, and while the iPod is still a big money maker, it too, is not the future of Apple. It is just one of the players (pun intended).

Apple has even bigger plans. The personal computer division with Macs and Notebooks continues to increase market share -- and there is plenty of room to grow. According to MacDailyNews, Apple Mac grabs 7.6% of the home computer market share. I think this figure could easily be double in five years or less. That will be a real revenue driver. Software and advertising will grow as well and contribute far more revenue than now accounted for.

So, Apple is still on a roll and the future seems bright. The stock is down with the overall market but I do not believe it is a value yet, closing yesterday at $124.03 and down further today. However, it may be fairly valued, which is different. I also do not agree with anyone who thinks Apple will be $200 in 12 months, as some have prophesied. One of our readers even wanted to bet me that it would be $175 per share, after I wrote it might reach somewhere between $150 and $160, 12 months out. In any event, I do think Apple will be higher next year than this year and increase its share of the cell phone, computer, software and advertising markets.

Those of you who are new to BloggingStocks can check out my other stories and read Chasing Value or Serious Money to find more potential opportunities and verify my track record as well -- INCLUDING ANY BAD CALLS.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm.