JP Morgan analyst Mark Moskowitz wrote in a research note Thursday morning that he is adjusting his quarterly sales estimates for both the iPhone and the iPad. Moskowitz expects Apple to sell 28 million iPhones during the fourth quarter, up from his original 25.3 million estimate. He cut his estimate for iPad sales, however, and now expects Apple to sell 13 million iPad units rather than his original 13.3 million-unit projection. Moskowitz also said he expects Apple to ship 5.4 million Mac computers during the quarter. “Our research inputs indicate that iPhone sales remain robust, and Mac sales holding up,” Moskowitz wrote. “The thrust of our call is that we are increasing iPhone estimates but slightly trimming our iPad estimates. Despite the uncertain macro environment, we expect Apple to sustain above-peer revenue growth, upward-trending margins, and incremental market penetration opportunities to fend off competitive and economic challenges.” Moskowitz increased his revenue forecast for the quarter from $37.36 billion to $38.69 billion with earnings of $9.87 per share, above the average Street estimate of $38.02 billion in revenue and $9.78 per share.
JP Morgan executive director Mark Moskowitz is not impressed with Amazon’s first attempt in the tablet market. In a recent note to investors, Moskowitz said the tablet is just “noise,” and that it lacks too many features to be a valid competitor. “We are not impressed with Kindle Fire,” Moskowitz wrote. “In our view, [the Kindle Fire] is a stepping stone, at best, into the tablet market. We think that for any vendor to wrestle momentum from Apple, a fully-loaded offering is a must, and here, Kindle Fire falls short for now.” Read on for more. More →
Apple will release two new iPhone models this fall, the “iPhone 4 Plus” and the iPhone 5, according to a note to investors issued by JP Morgan on Monday. JP Morgan analyst Mark Moskowitz reiterated reports that the iPhone 5 will feature global roaming with support for both CDMA and GSM networks. As various other rumors have also suggested, Moskowitz believes the iPhone 4 successor will be thinner and lighter than the current model. In addition, Moskowitz said Apple will release another model with “some improvements” over the current iPhone 4. He has dubbed that model the “iPhone 4 Plus” instead of the “iPhone 4S,” a commonly used moniker for the potential entry-level device. “We believe that investors should start to prepare for more positive surprises related to the quarterly run rate of the iPhones in the near- to mid-term,” Moskowitz said, noting the addition of the iPhone 5 to Sprint’s portfolio and the introduction of the iPhone 4 Plus on China Mobile and China Telecom could create a large boost in iPhone sales. More →