“Cowen & Co.’s Matthew Hoffman this morning reiterates an Outperform rating on Apple (AAPL) shares and raises his estimates for the company’s iPhone sales in the fiscal Q2 ended last month, writing that ‘we see ample room for iPhone estimates to work still-higher through year’s end as no product equal has yet appeared,'” Tiernan Ray reports for Barron’s.
“Hoffman raised his iPhone estimate to 32 million from 27 million, but writes that ‘that estimate may well be 4 million to 6 million light of the actual iPhones sold during the quarter,’ based on his ‘checks,'” Ray reports.
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MacDailyNews Take: “No product equal has yet appeared.”