“Apple Inc.’s iPhone sales topped some estimates in the fiscal second quarter amid strong demand for older models, according to Canaccord Genuity Inc., which raised its projection by 7.2 percent to 37 million units,” Lisa Rapaport reports for Bloomberg.
“For the fiscal third quarter, which ends in June, Apple will probably sell 27 million iPhones, up from a prior projection of 25 million, Michael Walkley, an analyst at Canaccord Genuity, wrote in a research report,” Rapaport reports. “‘iPhone 5 sales declined consistent with normal seasonal patterns after very strong December holiday quarter sales,’ said Walkley, who rates the shares a buy and has a $600 target price. ‘However, our surveys indicated stronger sales of iPhone 4/4S at reduced prices.'”
Read more in the full article here.
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“Sales topped estimates in the second fiscal quarter”? Sales figures haven’t been announced yet.
Their sources in “the channel” are considered impeccable right up until proven wrong at earnings announcement time.
How cute to up iPhone estimates two weeks before earning after saying for months that Apple will miss iPhone estimates this quarter…
Analysts have been all over the place with iPhone numbers for this quarter. They’re all just guessing. I don’t believe there’s any way at all they can get accurate figures. I’m not even sure why they need to. Giving investors inaccurate figures doesn’t help anyone. Shouldn’t serious investors just wait for Apple’s announcement? Buying or selling a stock for a quarter is too short a time as an investment. The whole scenario of 40 different analysts coming up with 40 different views smacks of outright ignorance. From the last few quarters I’ve seen of Apple, trying to catch Apple at a low point is very risky for a quick payback. Adding in an unknown guidance factor makes it even worse. And who the hell really knows what their gross margins are going to be like this quarter.
The only thing dumber than the analists is the acft that they still have a captive audience…Only in America, as Don King would say…
Dyslexia rules ok:
acft = fact…
There you go.
There goes your solution to the ‘”Apple needs
to release a cheaper iPhone”
The cheaper iPhone are the older model!
Analysts just want their estimates high enough at the last second just so they can say “Apple disappointed” – see stock fall. I don’t know why they don’t estimate 257 million or a gajillion phones just to disingenuously cover themselves,
If u increase the estimate , plz also make AAPL rise . Don’t just eat and don’t pay !! Fuvk u anal ists !!!!