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iPhone sales to continue declining until ‘iPhone 5’ launch, Canaccord says

Zach Epstein
April 19th, 2012 at 10:00 AM

Sales of Apple’s popular iPhone line of smartphones will continue to decline until the next-generation model launches later this year according to one analyst. Mike Walkley of Canaccord Genuity on Thursday raised his price target on shares of Apple stock to $740, reiterating a Buy rating. Walkley believes that Apple will post strong results for the second fiscal quarter ended in March, however he lowered his EPS estimates for fiscal 2012 to $43.13 from $44.58. Read on for more.

“Our recent channel checks indicate modestly slowing iPhone 4S sell-through trends in developed markets,” Walkley wrote. “We have lowered near-term iPhone unit estimates, but we have increased our F2013 iPhone estimates as we anticipate very strong demand for an LTE iPhone 5 ramping during the December quarter. We maintain our belief Apple is well positioned for strong sales and earnings growth driven by new product introductions across its portfolio.”

Brian White of Topeka Capital Market believes Apple’s next-generation iPhone, which he and Walkley both refer to as the “iPhone 5,” will launch some time in the third calendar quarter, but Walkley’s note indicates a fourth-quarter launch and he sees iPhone demand ramping up at that time. BGR reported late last year that Apple plans to launch a completely redesigned iPhone some time this fall.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.




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