“Morgan Stanley has seen the future and it’s a well-heeled Chinaman (or woman) with an iPhone,” Philip Elmer-DeWitt reports for Fortune.
“In a note to clients Sunday, Katy Huberty drew on Morgan Stanley’s proprietary AlphaWise survey of buying patterns among China’s rapidly growing middle class to paint a picture of the smartphone market on the mainland after Apple, as widely expected, finally signs deals with China Mobile and China Telecom,” P.E.D. reports. “Assuming 20% penetration, Apple should see, at a minimum, 24 million addition iPhone sales in 2013, adding $6.50 per share to the company’s bottom line.”
P.E.D. reports,”As the iPhone catches on and the middle class expands, that number could grow to nearly 40 million next year, adding $10 to Apple’s earnings per share… To put that in perspective, Apple sold 68.5 million iPhones worldwide in fiscal 2011, although with the launch of the iPhone 4S in October it sold more than half that many (37 million) in just one quarter.”
Read more in the full article here.
MacDailyNews Note: This article was quoted as it appeared at 8:41am EDT today. Since then, the term “Chinaman,” often regarded as pejorative, has been changed, without notation, to “Chinese man” in the Fortune article.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]