Analyst: Apple’s European iPhone sales better than expected

“Sales of the Apple (AAPL) iPhone in Europe are better than some investors thought, according to a research note today by RBC Capital’s Mike Abramsky,” Eric Savitz reports for Seeking Alpha.

“Abramsky says carrier meetings and store visits in the U.K., France and Germany “point to solid European iPhone momentum.” He expects the company to sell 400,000-500,000 iPhones in Europe in the fiscal first quarter ending December 31, of an expected 1.65 million units. He sees 4 million units selling in Europe in calendar 2008; he raised his forecast for total calendar 2008 iPhone units to 12.5 million from 12.1 million,” Savitz reports.

“And he adds that once Apple launches a 3G version and spreads distribution to more countries, ‘European iPhone sales appear poised for material improvement in demand and momentum.’ Abramsky tweaked his EPS outlook for the company; he now sees $4.81 for FY ‘08, up from $4.80; he goes to $6.02 from $6 for FY ‘09,” Savitz reports.

Full article here.

[Thanks to MacDailyNews Readers “I ♥ MDN,” “Andrew Orlowski is an Idiot,” and and “Mike in Helsinki” for the heads up.]


  1. If Apple has already guided 1/3 of his target for 2008, And they always blow away their own targets… This guy isn’t an analyst, he’s a typist.

    Wouldn’t we all be stunned if Apple’s ’08 earnings are less than $5 and not very stunned if they were above $6. iPhone is in 4 countries….Italy, Benelux, Baltac countries, China, Japan, Australia, Canada, South America in general….Russia, Turkey.

    Well, you can’t accuse him of hyping the stock…!Can you imagine writing a research note to add $0.01 to annual earnings of $4.80. Wow…he needs more companies to cover.

  2. I wish people weren’t so caught up on this “when the iPhone gets 3G” concept. I live in the centre of the capital of wales, in the uk, and there is very limited coverage of 3G (I have a 3G-capable nokia).

    I have mates in london with iPhones, and they’ve done speed tests with their old 3G Nokias, side-by-side. The iPhone is just as fast as the supposed “3G” phone. All because 3G has such little coverage of the country.

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