“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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