For Apple (AAPL) shareholders, “there is plenty to look forward to in the next quarter. Apple released iPhone 4S a few days back, and we are quite optimistic about its prospects,” Trefis Team writes for Forbes. “Our bullishness is reflected in the 25% premium of our price estimate for Apple stock over market price.”
“During the earnings call, Apple’s CEO Tim Cook was quite optimistic about iPhone 4S prospects, with Apple having already sold 4 million units during the first three days of its launch (see Adjusting Apple’s Estimates to $500 Post Earnings),” Trefis reports. “AT&T’s CEO echoed this optimism and was even more bullish on iPhone 3GS prospects, which Apple made it free with contract, ‘We have another device that I think is going to dramatically change those people that are on smartphones and quick messaging devices, the 3GS, which is free with a 2-year contract. We’ve seen a tremendous, tremendous demand for that device even though it’s a generation old. And actually, we’re getting more new subscribers coming on the 3GS on the average than other devices. So we also have an inventory sold out on that device.'”
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