Apple shares expected to rise steadily on record 9.5 million iPhones
As some analysts have begun reducing their estimated iPhone sales for Apple's June quarter citing limited availability, Piper Jaffray said Thursday it is sticking with its projection of 9.5 million sold in the three month frame.
"Ultimately we remain comfortable with our 9.5m iPhone estimate vs. the Street at 8.7m, but recognize that changes in channel inventory add uncertainty to our number," analyst Gene Munster wrote. "The June quarter is affected by channel drain/fill dynamics that are difficult to estimate due to the removal of all three iPhone 3G and 3GS SKUs and the addition of three new iPhone SKUs."
After the iPhone 4 was released in late June, Apple announced that it sold 1.7 million in its first three days, marking the strongest debut for an iPhone yet. But Apple sold out of its initial allotment of preorders on the first day, and supplies have been limited since.
That headwind, Munster said, could represent between a million and 1.5 million phones in the June quarter.
"Regardless, any headwind in the June quarter will represent a tailwind in Sept. given the strong early sales figures," the analyst wrote, "and we continue to believe the iPhone 4 will exceed current expectations throughout its lifecycle."
Munster also expects Apple to announce it sold 3.2 million Macs, greater than Wall Street's expectation of 3.1 million. Recent NPD data from May showed that Mac sales were up 35 percent year-over-year in May. Munster said when the domestic retail sales data for June arrives on July 19, he may have to revise his Mac estimate even higher.
The picture on iPad sales is perhaps the most clear, as only a few days before the quarter ended on June 26, Apple announced that it had sold 3 million iPads in its first 80 days. Munster believes Apple sold another 200,000 in the last few days of the quarter, bringing his projection to 3.2 million for the three-month frame.
Piper Jaffray has maintained its overweight rating for Apple stock, with a price target of $351. Apple is set to announce its earnings after the market closes on Tuesday, July 20. AppleInsider will have full coverage.
17 Comments
Worst launch ever. In the US, it was basically preorder by AT&T lottery. Millions will enter, few will win. And of course, there wasn't enough product at launch. You think we'll see the same thing again next year?
You think we'll see the same thing again next year?
Of course it will as demand rises faster than the product can be made. This isn?t a bad place for a company to be.
Worst launch ever. In the US, it was basically preorder by AT&T lottery. Millions will enter, few will win. And of course, there wasn't enough product at launch. You think we'll see the same thing again next year?
And yet trolls like you keep thinking you know better?
meanwhile, Google stock is WAY down. losing $58 billion in stock value in 6 months.
http://money.cnn.com/2010/07/07/mark...buzz/index.htm
From the Article:
Google's down nearly 30% in 2010, worse than the drops experienced by top rivals Microsoft and Yahoo.
Some investors are also worried that Google has not been able to replicate its market dominance in other areas -- most notably, in the world of mobile devices and social networking.
It's also looking more and more like Google, despite all its efforts to diversify, may be a one-trick pony after all.Unfortunately for Google, beating the stuffing out of Yahoo and Microsoft in search is now considered a fait accompli. But Apple (AAPL, Fortune 500), with its iPhone and iPad, has become more of a competitor to Google as of late. And Google's growth, while impressive, is pedestrian when compared to Apple.
Worst launch ever. In the US, it was basically preorder by AT&T lottery. Millions will enter, few will win. And of course, there wasn't enough product at launch. You think we'll see the same thing again next year?
Ballmer would KILL to have a launch like that for Windows Phone 7. Any product with that much demand, sight unseen on pre-order day 1, is a smash hit. When is the last time Microsoft had a smash hit? 1995.
And as for the millions not getting their iPhone 4 on its first day of availability, there's no reason to worry. In a few months, everyone will be walking around with iPhone 4s. Everybody. In 88 countries around the world.
Everyone except for the bitter, philosophically challenged fandroids. They'll be mumbling incoherently about "open, free, walled garden, more macho than wimpy iPhone," while struggling with hopeless platform incompatibility, OS market fragmentation, Samsung AMOLED hoarding, and instant obsolescence the moment each new Android handset is dumped into the market with slightly better specs.
Oh, and one more thing. Google holds the record for worst launch ever with Nexus One. Somehow, despite selling only a few units (135,000 in 74 days! LOL!) Google's inadequate customer service was overwhelmed. Their answer was, basically ,"RTFM". I hear Google has stopped selling the Nexus One. Nice try, amateurs.