God knows how Piper Jaffray make their money, because so far they have been - like most so-called analysts - utterly useless at accurately predicting what Apple will or will not do.
My bold, high-value prediction: at some stage in 2012 Apple will release a new iPhone, which will be called "The New iPhone", and will be better in lots of ways than the one before it. The blogosphere will shriek that it isn't as innovative as they predicted it should be, and marks the End of Apple. Lots of people will buy it.