“Needham & Co. analyst Charles Wolf this morning raised his firm’s target price on Apple stock to $240 (from $235), predicting Apple will sell near 30 million iPhones next year,” Andy Space reports for 9 to 5 Mac.
“In an extensive briefing despatched to clients this morning, Wolf shared calculations which suggest the installed base of iPhone users will reach 150 million in the next ten years – the equivalent of 5 per cent of the installed base of mobile phone owners in that year,” Space reports.
“On strength of the much-improved iPhone offering (principally based on price), the analyst expects the iPhone 3G will snare 7 per cent of the US mobile phone market next year, with sales of 14 million units there; beyond the US, Wolf estimates international iPhone sales will hit 15.6 million sales next year, for a total figure just shy of 30 million total sales in 2009,” Space reports.
“The analyst also notes the real deal behind all this activity, predicting the combination of the existing iPod halo with the growing iPhone halo will drive Mac sales far, far higher,” Space reports. “‘The addition of the iPhone halo effect increases the number of Macs sold in 2017 from 40 million units in the previous forecast to 44 million units in the updated one,’ he wrote in his report.”
Much more in the full article here.