Apple (NASDAQ:AAPL) Growth Led by iPad, iPhone in 2011 Says Caris

The iPad, a product that didn't exist a year ago, will account for 50 percent of Apple's growth in 2011, according to Caris analyst Robert Chira.

Chira stated, "A product that didn't even exist a year ago... now leads an entire charge to thin-client access/computing architecture."

The iPhone isn't far behind the iPad according to Chira, saying it would account for over 40 percent of growth for 2011, making the combination of the two over 90 percent of overall Apple growth next fiscal year.

Chira said about 6.7 million iPads will probably be sold in the second quarter, with a total of 32 million being sold for the year.

For the iPhone, he sees 64 million units selling.

Apple closed Friday at $317.44, down by $0.71, or 0.22 percent. Caris has a price target on them of $400, raising it from $375.