Apple looks to be following up its surprising miss in the September quarter with a huge holiday quarter for its popular iPhone line. According to Canaccord Genuity’s checks, Apple’s iPhone 4S was the best-selling smartphone in October for Verizon Wireless, AT&T and Sprint despite only being available for half of the month. Apple’s previous-generation smartphone, the iPhone 4, was also found to be among the three top-selling smartphones at each of the country’s top-3 carriers. Read on for more.
“Our October checks indicated the iPhone 4S was the top selling model at AT&T, Sprint, and Verizon with the iPhone 4, now $100, a top 3 selling model at each of those channels,” Canaccord analyst Mike Walkley wrote in a research note on Friday. He continued, suggesting that the December quarter will likely see record iPhone sales.
Walkley increased his fourth-quarter (Apple’s first fiscal quarter of 2012) iPhone sales estimate to 29 million units from his earlier estimate of 27 million. The analyst also increased his price target on shares of Apple stock to $560 from $545, reiterating a Buy rating.
Apple announced recently that it sold more than 4 million iPhone 4S handsets across seven launch markets during the phone’s debut weekend. Sprint said the iPhone launch gave the carrier its “best ever day of sales,” and AT&T activated more than 1 million iPhone 4S handsets during the device’s first week of availability.