Analyst Raises Apple Product Sales Estimates
Investment bank Goldman Sachs believes that sales of the iPhone, iPad, and Mac "could sharply exceed our prior expectations."
According to a report on Apple Insider, analyst Bill Shope told investors that "increasing competitive momentum and compelling new products" will see sales of Apple's key products exceed initial expectations.
"We believe recent macroeconomic uncertainty has had surprisingly little impact on Apple's revenue and profit momentum. Indeed, we believe iPads, Macs, and iPhones could sharply exceed our prior expectations," Shope said.
A next-generation iPhone, iOS 5, new iPods and iCloud products set to arrive this autumn, as well as the iPad 3, which will come early next year, mean that the outlook is bright for Apple, Shope said.
The bank raised its estimates for Apple's September quarter performance to $28.71 billion in revenue and $7.30 earnings per share, up from $27.37 billion and $6.49.
Shope reckons that Apple will ship 42.39 million iPads by the end of 2011, saying that a lack of competition in the market gave Apple an easy ride. In particular, he criticized "the inability of most Android vendors to offer competitive price points."
He also said that Apple will ship 114.5 million iPhones in the whole of 2012, as opposed to its earlier estimate of 109.1 million. However, current iPhone sales were declining as consumers wait for the next-generation handset to launch.
Shope said that sales of Macs would increase from 16.36 million units in 2011 to 18.64 million in 2012, growth of 13.9 percent.
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