In a note to investors on Tuesday, RBC Capital Markets General Manager Mike Abramsky issued the firm’s estimates for sales of Verizon Wireless’ iPhone 4 during its first week and first quarter of availability. Best on the firm’s pre-order estimates, RBC believes that first-week sales of Verizon’s iPhone 4, which goes on sale tomorrow, will surpass 1 million units. Channel inventory at launch is estimated to be between 1 and 1.5 million units, and Abramsky thinks the entire inventory may be depleted during the phone’s first week of availability. RBC also projects that between 3 and 4 million Verizon iPhone 4 units will be sold during the first quarter of 2011. Finally, RBC notes that its previous estimates of between 9 and 10 million Verizon iPhones being sold during the 2011 calendar year may be conservative. Verizon Wireless took pre-orders from existing subscribers on February 3rd and stated that the highly anticipated smartphone broke its previous first-day sales record in less than two hours. Pre-sales were available for a total of 17 hours and analyst estimates for total pre-sales on February 3rd are as high as 500,000 units.
In a note to investors Tuesday morning, RBC Capital Markets GM Mike Abramsky suggests that RIM may sell 6 million BlackBerry PlayBook tablets in the device’s first year of availability. In an independent survey of 1,100 consumers conducted after the Consumer Electronics Show in January, RBC found that 6% of respondents were likely to purchase the BlackBerry PlayBook once it comes available. This represents almost 50% of the interest shown in the iPad ahead of launch, according to a similar RBC survey. The firm’s data shows that the PlayBook is appealing to early adopters and power users, and key areas of interest compared to Apple’s iPad include the 7-inch form factor, impressive specs, multitasking capabilities, speed and power, the BlackBerry brand and the security features. As a result of the strong buying intentions revealed by its survey, RBC contends that the PlayBook could sell 4 million units in the 2011 calendar year and 6 million units in its first 12 months of availability. The firm’s new sales estimates are significantly higher than Wall Street’s consensus of 2-3 million units in the 2011 calendar year. RBC expects the Wi-Fi-only version of the BlackBerry PlayBook to launch in mid-March at a price point between $399 and $449, with 3G and 4G versions to follow this summer. The firm also reiterated its price target of $90 for RIM’s stock.
Just one week ago, RBC Capital Markets Managing Director Mike Abramsky sent a price target revision to investors upping the firm’s target for Apple stock from $365 to $395. Following Apple’s monster quarter, RBC issued a new revision — this time raising its target to $425. Apple’s conservative second-quarter guidance of $22 billion still beat the Street’s $21 billion, and Abramsky points out that Mac shipments grew faster than Windows PC shipments for the 19th consecutive quarter. The firm now expects Apple’s 2011 fiscal year revenue to come in at $99 billion, up from its earlier estimate of $90.8 billion, and FY12 revenue estimates have been upped from $103.3 billion to $108 billion. Abramsky also notes that while Jobs’ medical leave may have a near-term impact on Apple’s stock, the company’s huge momentum remains intact.
In a price target revision sent to investors Wednesday morning, RBC Capital Markets Managing Director Mike Abramsky raised the firm’s target for Apple stock to $395 from $365. RBC also raised its revenue estimates, speculating that increased demand and new product launches would drive Apple’s revenue to $90.8 billion in the 2011 fiscal year and $103.3 billion in 2012. Abramsky’s revised figures put Apple’s first quarter revenue at $25 billion, above the Street’s consensus of $24.2 billion, and the second quarter will dip slightly to between $20 and $21 billion. Apple is expected to sell 3 million Verizon iPhones in the second quarter, with unit sales totaling 9 to 10 million in the calendar year. Based on the addition of the Verizon iPhone and strong demand for the upcoming fifth-generation iPhone, which is expected to launch in June or July, RBC estimates that Apple will sell 70 million iPhones in the 2011 calendar year — 19% of the estimated global smartphone market.
In a note to investors on Monday, RBC Capital Markets Managing Director Mike Abramsky stated that Verizon Wireless may sell 9-10 million iPhones in 2011. The figure represents RBC’s preliminary estimates covering the 2011 calendar year. RBC’s projection is up to double the street’s earlier consensus of 5 million units. Abramsky notes that while Apple CEO Steve Jobs may make an appearance at the Verizon Wireless iPhone event scheduled to take place tomorrow, RBC does not anticipate additional product announcements. Previous rumors suggested Apple might also announce an iPad 2 compatible with Verizon Wireless’ data network at the event. Verizon Wireless is expected to announce the CDMA iPhone at a special press event tomorrow, January 11th, and BGR reported exclusively that the device looks set to launch on February 3rd.