Apple Inc. (NASDAQ:AAPL) stock has suffered in the wake of the firm’s record beating second quarter of 2012. Despite the fantastic results, and there really wasn’t a weak point in the whole report, several problems have persisted. In recent days however it looks like investors have put those worries behind them and gathered around the stock again. Having closed at 579 on Wednesday evening it looks like the world’s most valuable company could be heading for 600 a share sometime soon.

Societe Generale SA (EPA:GLE) agrees with the positive view being espoused at the moment. In their most recent report on the world’s most talked about stock they offered a price target of $750 and gave many reasons to be optimistic about the company’s future. As David Einhorn said expectations aren’t priced in at a P/E of 14.

The firm’s report doesn’t spend time speculating on the likelihood of Apple releasing new products whether they be iPhone 5, Apple TV or iPad Mini. Instead the report focuses on the company’s current core products, the iPhone and the iPad and discusses the prospects for a growth in sales in those areas for the next quarter.

The French banking unit expects Apple’s iPhone to sell about the same amount as it did in the second quarter. That analysis is based on parallels drawn from demand for the iPhone 4. The expected number of units for the third fiscal quarter is 35 million units. That analysis is on the slightly more optimistic side as many expect Cupertino to sell less as demand slacks of in preparation for the release of a new model.

Like most other analysts iPad growth is expected to continue to jump as time goes on. The research suggests the company will sell 18 million iPads in the current quarter compared to 11.8 million last quarter and Apple’s guidance figure of 14 million. Some excellent things are ahead for the iPad as pent up demand in China is sure to contribute once Apple releases the new model there.

The report also gives a speculative look at the effect of the iPhone on the company’s profit margins. This is the interesting part. SG consider the increased demand for iPhones to be the number one driver for the growth in Apple’s profit margin. This will surely continue to be the case for some time to come.

Apple’s fundamentals are strong. Apple’s future looks bright. The company’s stock will surely begin a sustained rise, particularly as we head toward the release of a new iPhone.