Apple shares expected to rise steadily on record 9.5 million iPhones
Shares of electronics maker Apple are set climb higher over the next 90 days, given financial research that shows the company to be in position to report significant upside to all three of its major product platforms for the June quarter.
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.
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.
Comments
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?
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.
Another Analyst Slashes Google Estimates And Price Target
http://finance.yahoo.com/news/Anothe....html?x=0&.v=1
Ever since Google (GOOG) made the decision to pull out of the largest and fastest-growing Internet market in the world (China), it's been nothing but bad news for the stock.
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.
.
I am not a great fan of iPhone 4, as many of you know, I still stick to my 3GS, but ..
I couldn't agree MORE with the SockRolid's statements. He has put them in the precisely chosen words. Android eco system has all the problems that SockRolid is mentioning and each of them is bigger than the next. OS market fragmentation, inability to offer updates like Apple and instance obsolescence, each of which gives me a hardtime to even think about switching to Android despite iPhone 4's problems. Apple is the way to go for the next few years, at least.
And, of course, Apple won't sell very many iPhones or iPads because they lack a usb port and don't support flash.
I own over 400 shares... so I sincerely hope the stock moves up up and away.
meanwhile, Google stock is WAY down. losing $58 billion in stock value in 6 months.
......
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.
The market is finally waking up to something that a few of us have been predicting here for a few months.....
Google's strategy simply appears to be: Throw lots of free stuff at the wall and see what sticks. When/if something sticks, we'll use ads to fund 'free.'
My concern is that, at some point, the company is going to get desparate, and try to start monetizing the incredible amount of information that it has on all of us. The resulting brouhaha will be something to witness.
Nobody can accurately predict that a stock price will steadily climb higher. The projected sales are already baked into the stock price. Whether Apple tops those projected sales is the key question and can't be answered by the analyst predicting those sales.
And, of course, Apple won't sell very many iPhones or iPads because they lack a usb port and don't support flash.
I own over 400 shares... so I sincerely hope the stock moves up up and away.
they wont sell that many iPhones or iPads because they lack usb ports and dont support flash?
Okay, we really don't need to see that Google story in every thread.
I had not seen it before, so it was valuable to me.
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.
AMEN my BROTHER AMEN
And, of course, Apple won't sell very many iPhones or iPads because they lack a usb port and don't support flash.
This is an online forum. No way to see your facial expression or hear your vocal inflection so I can't really tell if you were being ironic but I'll assume you were.
And yet trolls like you keep thinking you know better?
apple is doomed
selling 236,111 per hour for 3 days in a row
at 500 to 700 a pop is the single greatest product launch ever
to sell 10 mill
the remaining 2,114 hrs left in this QT demands sales of
45000 per hour
i dunno maybe i made a math like mistake some where here ???
i feel sleepy now
peace
9
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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?
This was acknowledged widely as Apple's most successful product launch. Demand is through the roof. Where are you getting this from? The competition would kill to have even one of Apple's "weak" launches . . . not that there have been any in recent memory.
And yet trolls like you keep thinking you know better?
Dems fightin' words!