The idea is that iAnywhere would extend iPad functionality by using various peripherals and accessories. For example, you might be able to connect your iPad to a docking station, and in doing so the iPad would then be able to run full Mac apps and not be limited by the level of iOS apps. JP Morgan believes that products like this could even come this year, because it saw Apple's move to 64-bit computing as a way to prepare for iAnywhere.
Of course, a plan like this doesn't come without troubles. The main issue is that Apple could end up cannibalizing its Mac sales if it isn't careful. Apple has been bucking the trends in PC sales. Whereas the PC market overall is dropping, Apple's Mac sales have continued to climb, and a move like this would definitely cause Mac sales to drop. JP Morgan believes that Apple could make up for that potential cannibalization through selling the peripherals,accessories, and services, including specially configured displays, docks, and cloud services.
Another issue is that a move like this could also hurt Apple's profit margins. JP Morgan rightly points out that a platform like iAnywhere could lead to an increase in iOS market share, but Apple has traditionally been more concerned with profit margins than market share. If Apple were truly aiming for market share, it would have put out the low-cost device that analysts wanted, and not re-release the iPhone 4.