J.P. Morgan analysts think Apple will begin targeting overseas sales of computers in the US$700-$1,119 . Mark Moskowitz and Anthony Luscri made the pronouncement in a letter to clients today, as reported by “Fortune” (http://tech.fortune.cnn.com/2010/05/27/how-the-mac-picks-up-an-easy-5-7-billion/).

The analysts think Apple can add an incremental $5 to $7 billion to its revenue stream by increasing its international market share in the mid-range computer markt with an average selling price between $700 and $1,119. Moskowitz and Luscri that while Apple has been outgrowing the rest of the computer market by a factor of 2-to-1 over the past three years, most of that growth has been in the high end of the U.S. market.

And although Apple has been making inroads in the mid-range market — its U.S. share in 2009 was roughly 22% — it currently has only a 2% share of the mid-range market overseas, notes “Fortune.” The J.P. Morgan pundits think this could change quickly if Apple steps up its retail efforts in Europe and the Far East.