“Sales of Apple Inc’s new iPhone 5 may be double those of the previous model in its first week on the market, and up to 33 million iPhones may be sold this quarter, brokerage houses forecast on Thursday,” Aditi Sharma and Sayantani Ghosh report for Reuters.
“Many expressed surprise at how quickly Apple planned to roll out the new model around the world, saying this suggested it would be able to keep up with demand for a bigger, faster and slimmer iPhone, which goes on sale this Friday,” Sharma and Ghosh report. “Several analysts raised forecasts for Apple’s share price by as much as $60, to between $750 and $820. The stock closed at$669.79 on Wednesday.”
Sharma and Ghosh report, “‘The iPhone 4 will be sold for free after subsidies, replacing the 3GS and providing a strong product to compete in the high-growth, low-end smartphone market,’ William Blair said. The brokerage raised its sales forecast for all iPhone models by 29 percent to 33 million for the July-September quarter, at the top of forecasts that ranged from about 20 million to about 30 million in brokerage notes seen by Reuters. RBC Capital Markets said it expected Apple to ship 8 million to 10 million of the new models by the end of the month.”
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