Piper Jaffry analyst Gene Munster believes Apple is on target with financial targets for 2006, without an iPhone release.

Reasons for his prognostication come from a full availability of the MacBook Pro line, new Mac releases, new widescreen iPod Video model, higher capacity iPod Nano, and seasonal sales increases. Although not included in his numbers, the release of an Apple branded cell phone, would be a positive driver for Apple's bottom line.

According Munster, "The wild card in the next year remains the iPhone. While not in our numbers, we believe an iPhone will be a significant driver to Apple's business".