“Strong global demand for Apple Inc’s iPhone 6 will drive revenue growth through 2015, while updated models should help reverse three straight quarters of declining iPad sales, analysts said,” Eileen Soreng reports for Reuters. “Apple shares were set to open 2.4 percent higher on Tuesday.”
“The company posted better-than-expected revenue on Monday on the back of a record iPhone launch that saw 39 million of the smartphones sold in the September quarter,” Soreng reports. “‘We expect this momentum to continue in the December quarter and into 2015, particularly as supply improves steadily in coming months,’ Goldman Sachs analysts wrote in a note to clients.”
“‘(We) were encouraged by Tim Cook’s comments regarding Apple basically selling every iPhone 6/6 Plus it can produce and will likely remain undersupplied relative to demand through the end of 2014,’ Canaccord Genuity analysts said in a note to clients,” Soreng reports. “‘Still, we believe Apple will reverse the trend on the iPad with its recent product refresh and also believe that the Mac product line will continue to gain market share against its PC rivals,’ analysts at William Blair said.”
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Apple bulldozes Street with record quarterly revenue of $42.1 billion – October 20, 2014