The contest among established Wall Street analysts to see who can make the most dramatic bull case for investing in Apple appears to be gathering steam. The newest entry came late yesterday from Katy Huberty of Morgan Stanley,  who brings the advantage of having been right fairly often in the past.

Still, her forecast is an eye-popper: Apple had 30m iPhone subscribers at the end of last year, and she said it should have better than triple that number–exceeding the nice, round figure of 100m–by the end of 2011. Read more