Apple's (AAPL) Price Target Raised to $500 per share (market cap equals 52% of Mexico's GDP)

This morning, Hudson Square Research analyst Daniel Ernst raised his price target for Apple to $500, from $300, while repeating his iBuy rating.

Daniel noted the following in his research notes: “With the launch of the iPhone, the App Store, the iPad, and the re-launch of Apple TV, we estimate Apple’s total addressable market for hardware, content, and services expanded from roughly $400 billion to $1.5 trillion.” He raised his FY 2011 EPS forecast to $17.67, from $16.67.

Impacting sales of iPad, iPod, iTunes, iPhone and iMac?

Mr. Ernst did not address the negative impact on future Apple sales when specific iChose not to make my mortgage payment for 12+ months clientele find themselves in a condition known as iGot the boot and iNeed to pay rent.

AAPL research courtesy of the IMF and their list of 181 countries

Given the current number of outstanding shares, Apple's market cap would be $450+ BILLION at $500 per share. This market cap is roughly 52% of Mexico's total GDP. Apple's market cap would also exceed the GDP of Sweden, Norway, Argentina, South Africa and 157 other countries on IMF's 181 country list.

iGonja

Maybe Daniel Ernst is an indisputable analytical genius by raising his target to $500 per share as Apple would generate a market cap 35 times greater than Jamaica's GDP and positions Apple for the next huge seller...iGonja.

Daniel Ernst : iGonja and iTunes...iTold you so!