Interestingly, Gene forecasts a PE expansion beyond 14 in 2013. At PE of 14 the pps would hit $900 when the ttm earnings hit $64.29. Apple's earnings is very likely to exceed $60 in FY13. So, as he said, to think of the move to $900 as being a 65% move seems really big. But, when you put math behind the move in terms of earnings and PE and a new product like iTV, it seems like a reasonable pps at $900 by end of 2013.
In addition, one must remember the rapid growth rates of both the smartphone and tablet markets to better understand the growth rate potential for Apple over the next few years.
I agree with his $900 price target by end of 2013...probably by August, IMO.