$1.2 Billion For iPhone Apps in 2009. What is Gene Munster Smoking?

I am as much an iPhone cultist as the next guy, but Piper Jaffray analyst Gene Munster is taking this cult thing a little too far. He estimates that by the end of 2009 there will be 55 million iPhone users and that the iPhone App store alone could be a $1.2 billion business. [...]

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