“Our proprietary checks in Apple’s supply chain suggest slight increases to our production forecasts for CY1Q11,” Fidacaro said in a note to clients today. “Our read on CDMA iPhone production shows a ramp up from prior forecasts and positive revisions for the GSM iPhone as well. Early indications from the Verizon presale of the CDMA iPhone were [also] strong. Thus, we are raising our iPhone shipment estimates substantially.”

Fidacaro had been looking for Apple to ship 17.7 million iPhones in the March quarter and 70.5 million in fiscal 2011. Now he’s forecasting 19.8 million and 76.7 million–a 92 percent increase year-over-year.

That, along with a significant upward revision to his iPad shipment estimates, driven by the presumed debut of iPad 2–32.1 million in fiscal 2011, up from 27.3 million (a 330 percent increase year-over-year)–prompted Fidacaro to raise his price target on Apple to $465 from $445.

Spare change for Apple shares?

On Thursday, the virtualization software firm reported a second-quarter profit of 20 cents a share, topping the 19 cents projected by analysts. And while sales fell to $455.7 million, they still exceeded the $452.4 million the Street had been expecting.

In a conference call with analysts, VMware (VMW) execs warned not to read to much into that though, saying they are still cautious about the economy.

“It is clear the global economy has not yet recovered and there is still some uncertainty,” CEO Paul Maritz cautioned. “In a recent survey of 150 CIOs of large businesses, 40 percent expected some downward revision in their budgets in the second half of 2009. That said, there were some signs that customers were moving on with business, even if it was buying just enough just in time.”

Virtually everyone agrees that “OS X Leopard is far superior to Vista,” says Cook. He goes on to tout the Mac’s software. He speaks of compatibility and Boot Camp, which allows Windows to be run on a Mac.

Cook notes that Microsoft Vista’s failure at market–one of the greatest missteps in Microsoft (MSFT) history, according to Cook–has afforded Apple (AAPL) an unprecedented opportunity to win over Windows users to the Mac platform. He says Apple retail stores receive 400,000 visitors a day and that 50 percent of the company’s sales are now to Windows users.

Mac has outgrown the market 14 out of last 15 quarters, Cook continues. The Mac retail share has grown to 18 percent of U.S. retial sales, with a revenue share of over 31 percent, which means that one out of every three dollars spent on computers is spent on a Mac. Quite an achievement.

Finally, Cook points out that Macs now account for 47 percent of computers at universities. Apple has sold more Macs in in the last three quarters than it sold in all of 2007.

Virtually everyone agrees that “OS X Leopard is far superior to Vista,” says Cook. He goes on to tout the Mac’s software. He speaks of compatibility and Boot Camp, which allows Windows to be run on a Mac.

Cook notes that Microsoft Vista’s failure at market–one of the greatest missteps in Microsoft (MSFT) history, according to Cook–has afforded Apple (AAPL) an unprecedented opportunity to win over Windows users to the Mac platform. He says Apple retail stores receive 400,000 visitors a day and that 50 percent of the company’s sales are now to Windows users.

Mac has outgrown the market 14 out of last 15 quarters, Cook continues. The Mac retail share has grown to 18 percent of U.S. retial sales, with a revenue share of over 31 percent, which means that one out of every three dollars spent on computers is spent on a Mac. Quite an achievement.

Finally, Cook points out that Macs now account for 47 percent of computers at universities. Apple has sold more Macs in in the last three quarters than it sold in all of 2007.