iPhone Estimates By JP Morgan Raised To 28 Million For Holiday Quarter
JP Morgan has increased the its projection of Shipments of Apple’s iPhone in December quarter to 28 Million units which revises its estimates of revenue to US $38.69 billion. This estimation has been made on the basis of high demand for iPhone 4S, iPhone 4 and iPhone 3GS.
Though the firm’s previous estimate was 25.3 million units, analyst Mark Moskowitz predicts iPhone shipments of 28 million for the holiday quarter. Moskowitz has noted that US carriers have been “surprised by the strong uptake” of the iPhone 4S, as well as the lower-priced iPhone 4 and 3GS models. The older iPhone models are also expected to facilitate Apple’s penetration in emerging markets such as China.
In June 2011, Apple had experienced its best iPhone sales with 20.34 million iPhones. Despite, witnessing a decline in sales in September quarter, Apple CEO Tim Cook is optimistic about next quarter to be “all time high” in sales. According to analyst, sales of three iPhone models will push with $9.87 in earnings per share this quarter. Their previous estimate stood at $37.26 billion and $9.45 EPS.
J.P. Morgan also raised its fiscal 2012 and fiscal 2013 estimates for Apple’s handset shipments. They are expecting 105.5 million units next fiscal year and 121.7 million in 2013.
In December 2010 quarter, Apple had witnessed the sales of 16.24 million iPhones and 7.33 million iPads.
Source: Apple Insider