Apple Stock Seen Hitting $718 on Sales of 60M iPads, 134M iPhones in 2012

From the department of too-high-to-do-basic-math:

As for the iPhone, [Gene] Munster’s models call for Apple to sell 134 million units this year, up from the 93.1 million the company sold in 2011.

Apple has sold more iPhones every year than in every previous year combined, yet Munster thinks Apple won’t sell even 50 percent more iPhones in 2012 than it did in 2011.

Did he even look at the numbers before making this prediction? 

Apple Stock Seen Hitting $718 on Sales of 60M iPads, 134M iPhones in 2012