“Apple’s iPhone launch is only weeks away, and Piper Jaffray analyst Gene Munster is predicting that will signal the beginning of a skyrocketing climb leading to 45 million units sold in 2009. For calendar year 2007, he expects Apple will sell 3.2 million units, and 12.4 million in 2008,” Jeff Gamet reports for The Mac Observer.
Gamet reports, “Looking at the 45 million unit prediction for calendar year 2009, Mr. Munster commented, ‘While this may seem like a bold prediction, we believe a number in this area is not as far of a reach as some may think. Specifically, to reach iPhone units of 45 million, we believe the product will have 7.0 percent hand set market share in North America and 2.8 percent handset market share in the rest of the world.'”
“Based on Mr. Munster’s sales predictions, Apple will show a 17 percent revenue growth for calendar years 2007 and 2008, and a 19 percent growth in 2009 when looking at the company’s ratable revenue growth. Ratable revenue growth follows Apple’s subscription-style practice of accounting for iPhone and Apple TV sales over a 24 month period,” Gamet reports.
“Mr. Munster is maintaining his ”Outperform’ rating for Apple stock, and is raising his target price from US$140 to $160,” Gamet reports.
Full article here.