“An agreement for Best Buy to start selling iPhones will help make already strong estimates for Apple’s device sales seem all too modest, according to an investment note from Lehman Brothers,” Aidan Malley reports for AppleInsider.
“Analyst Ben Reitzes determines that the large increase in the number of American distribution points that comes with the Best Buy initiative, combined with more than one million iPhones sold on the launch weekend alone, should result in Apple blowing past earlier predictions for the rest of calendar 2008,” Malley reports.
“‘We believe our estimate of 3.8 million iPhones sold in Apple’s [September quarter] is very conservative,’ Reitzes says. ‘Furthermore, we believe that initial demand overseas is very strong and will get much stronger; we estimate at least 8.3 million iPhones could be sold in [the December quarter],’ equating to 12.1 million of the new devices trading hands during the summer and fall combined,” Malley reports.
“The analyst notes that Apple has enjoyed the results of its rapidly expanding Best Buy presence with Macs and may be poised to expand the ‘halo’ effect with iPhones on sale at the third-party chain, as customers buying iPhones come back to buy other Apple products,” Malley reports.
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