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Here’s my fair contribution to the impending iPhone hype tsunami..

From BusinessWeek:

JMP Securities’ Ingrid Ebeling used conservative price-earnings ratio projections for 2008 to calculate that the Mac business, with revenues of $11.7 billion and net margins of 11%, would be worth $42.70 on its own. The iPod, with $10.8 billion in revenues, 12% margins, and a slightly lower multiple given slowing growth, would be worth $38.87. Add in $6.36 for other music products, $6.76 for peripherals such as Apple TV, $5.91 for software, and $14.18 per share in cash. You’re already at $114.78—with no help from iPhone…

…It plans to have 3 million iPhones ready for sale on June 29, two sources say. (Apple won’t comment.)

Apple went down 3.5% today to $120 following the lack of news on iPhone at WWDC. Awww.. let it drop so I can get back into the game

And this is a funny picture Apple won’t laugh at:

(via TUAW)