“While the stock hasn’t performed all that well over the past few months, sales of Apple’s marquee product, the iPhone 5, have surged according to recent channel checks,” Agustino Fontevecchia reports for Forbes.
“Canaccord Genuity now estimates Apple will sell 47.5 million iPhones in December and that the stock will hit $800,” Fontevecchia reports. “‘Bolstered by the iPhone 5, we believe Apple’s industry-leading software ecosystem and integrated software experience will lead a strong multi-year cycle,’ explained Michael Walkley, Canaccord’s tech analyst.”
Fontevecchia reports, “Walkley has revised his estimates of iPhone sales and now expects 47.5 million units in December, up from 45 million previously. He’s also lowered his March quarter estimate to 46 million units, from 47.5 million, as the earlier entry [Dec. 7 launch] into China will pull sales to December. Cannacord has an $800 price target on the stock.”
Read more in the full article here.
Apple: iPhone 5 arrives in South Korea and over 50 additional countries in December – December 3, 2012