“It’s no secret that Apple is increasingly becoming a one quarter company, generating a bigger portion of sales and profits during the holiday season than in any other quarter,” Chris Ciaccia reports for TheStreet. “What’s not known, however, is just how big Apple’s quarter was. Judging by some analysis on Wall Street, it could be much bigger than anyone imagined.”
“Canaccord Genuity analyst T. Michael Walkley, who rates Apple shares “buy” with a $600 price target, noted that his holiday surveys indicated ‘very strong iPhone 5s sales,’ and improved the supply level for all colors and size,” Ciaccia reports. “Apple CEO Timothy D. Cook has said in the past that he was expecting an ‘iPad Christmas,’ but given the results of this survey and from others on Wall Street, the iPhone could top the iPad in revenue, units sold, and buzz created by a massive margin.”
Ciaccia reports, “‘We were disappointed with the lack of innovation from Android rivals at CES, and we believe a potential mid-year refresh for iPhone 6 and the upcoming larger-screen iPad position Apple for solid Y/Y F2014/15 sales growth,’ Walkley penned in his note.'”
Read more in the full article here.
Apple to webcast Q114 earnings release conference call on January 27th – January 7, 2014