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iPhone sales seen beating Q2 estimates, no thanks to the iPhone 5

iPhone Sales Q2 2013

Though Apple (AAPL) still can’t catch a break on Wall Street, the company may surprise us all later this month when it reports iPhone sales figures for the second fiscal quarter. Canaccord Genuity analyst Mike Walkley believes Apple sold more iPhones than he previously expected during the March quarter, and he adjusted his full-year EPS estimates to $43.86 from $43.59 as a result. The analyst now sees Apple selling 37 million iPhones in the March quarter, up from his earlier estimate of 34.5 million, ValueWalk reports. But strong performance from the flagship iPhone 5 wasn’t the reason for Walkley’s adjustment — the analyst lowered his ASP estimate to $601 from $651, reflecting a higher mix of iPhone 4 and iPhone 4S models and further supporting the notion that Apple would be well-served by launching an entry-level iPhone. Walkley reiterated his Buy rating on Apple shares with a $600 price target.

Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.