Deutsche Bank expects Apple Inc.’s strong share gains and revenue growth to continue, despite softer near-term economic trends. The brokerage maintained its ‘buy’ rating on the iPhone maker with a price target of $375.

“We recently met with Peter Oppenheimer (CFO) and Ron Johnson (SVP, Retail) at Apple's headquarters. The meetings were upbeat where management expressed a high degree of confidence in its strategy and competitive positioning. A common theme through both meetings was Apple's increasing international expansion plans and efforts to drive greater penetration into Enterprise and SMB accounts,” said Chris Whitmore, an analyst at Deutsche Bank.

Apple highlighted its plans to open about 50 stores per year with a growing percentage of those openings occurring in international locations (e.g. China, Germany, France, Spain, etc.). Apple highlighted China as its largest growth opportunity from a geographic standpoint, Deutsche Bank said in a report to clients.

The analyst said after opening its first retail store in Beijing over 2 years ago and having achieved a greater understanding of the local market, Apple will get more aggressive and plans an additional about 20 stores in Tier 1 and Tier 2 Chinese cities by 2012. Of Apple’s existing about 300 stores, roughly 100 are located outside the U.S.

Over the next several years, the analyst expects Apple to roll out its highly successful multi-channel strategy globally. Apple is increasing its investment in the VAR channel, direct sales capacity and Apple Care to support its Enterprise goals.

Apple has been pleasantly surprised by the strength of iPad in Enterprise and seems to be benefiting from demand pull / halo effect of the iPad and iPhone with corporate customers. In addition, Apple is optimistic the large number of enterprise customer briefings it conducts will translate into additional corporate penetration, Deutsche Bank said.

“We believe the reduction in iPad lead times (ships in 24 hrs from 7-10 days in late July) reflects improving supply. Meanwhile, iPhone 4 demand remains very robust and despite efforts to close the supply / demand imbalance and the continued supply ramp, Apple still cannot meet iPhone demand (3 week lead times persist),” said Whitmore.

The analyst said Apple sees significant room to expand its iPhone carrier / geographic relationships. For instance, Apple compared its 88 countries and 150 carrier relationships with Research In Motion Ltd.’s 170 countries and 550 carrier relationships.

Apple shares closed Wednesday up 2.97 percent at $250.33 on the Nasdaq, while in after-hours the stock rose 0.11 percent to trade at $250.60.

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