Apple to be 'bigger than HP' says Forrester

Research firm u-turns on iPad prediction blunder
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Market research firm Forrester said that Apple may continue to experience the same meteoric 50 per cent growth over the next two years.

Speaking in an interview with Bloomberg, Forrester boss George Colony said that the growth meant that Apple would be "bigger than IBM next year, and they'll be bigger than HP the year after that."

Colony predicted that the growth meant Apple was set to become a $200 billion dollar revenue company off the back of a boom in applications that would fuel demand for devices such as the iPad.

The research firm did, however, warn of the impact of the departure of Apple's ailing boss Steve Jobs, with Colony describing the impact as a "massive, massive hit to the valuation."

Colony was less upbeat about Apple competitor Google, claiming that Google was too "web-centric". Seemingly brushing aside the internet giant's own Android efforts and in-app advertising, the Forrester boss told Bloomberg that in the "app Internet world" meant all web-based advertising "goes away."

Colony also equated Google's replacement of CEO Eric Schmidt with co-founder Larry Page with Yahoo's similar move with co-founder Jerry Yang. Yang took over the reins Yahoo in 2007, only to see the firm further decline and for Yang to eventually step down in 2009.

Forrester's bullish Apple views are in stark contrast to the firm's initial evaluation of the iPad. The company projected the iPad amounted to a fad and would sell just 3.5 million tablets in 2010.

Apple in fact managed to shift 14.8 million iPads last year.

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