“As previously noted, analysts were upbeat about the iPhone upgrade cycle. After all, AT&T was pulling forward demand as it tries to lock in customers into new contracts before losing exclusivity. And Apple’s phone is quite an overhaul. Piper Jaffray analyst Gene Munster came out with his initial prediction only to have Apple almost hit 60 percent of his target in a day,” Dignan reports. “Toss in the fact that Apple had more than 600,000 preorders in one day and you get the sense this iPhone 4 rollout is going to be huge.”
Dignan reports, “Wall Street analysts, an optimistic lot to start with, look uncharacteristically conservative with their predictions. Now they’re scrambling to predict Apple’s iPhone 4 units as well as the earnings and revenue growth that goes with it.”
Full article here.