“Investment bank J.P. Morgan has made ‘significant increases’ to both its iPhone and iPad projections for the first quarter of calendar 2012 after research indicated “major upside potential” to Apple’s sales numbers,” Josh Ong reports for AppleInsider. “Analyst Mark Moskowitz raised his December 2012 price target for Apple from $625 to $715 in a note to investors obtained by AppleInsider on Tuesday. The firm also raised its unit shipment estimates for the company on ‘better than expected unit sales activity of the iPhone and iPad.'”
“J.P. Morgan had previously expected iPhone shipments to reach 28.1 million in the first quarter of 2012 (Apple’s fiscal second quarter), but the company now believes that shipments will reach 31.1 million units. iPhone shipments for the year are now forecast at 138.2 million, up from 128.7 million. Moskowitz believes investors are expecting between 29 and 31 million units,” Ong reports. “The analyst believes Apple’s 2012 iPhone revamp will arrive in the second half of 2012 and include a ‘thinner body and LTE capability.'”
Ong reports, “As for the iPad, the firm now estimates shipments of 13.8 million in the March quarter, compared to a prior projection of 10.1 million units. 2012 shipments of iPads are believed to rise to 69.6 million, up from a previous forecast of 59.8 million.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]
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