It's been just three days since Apple's iPhone 5 went on sale and analysts have forecast the company to sell 46.5 million iPhones in the December quarter.
If you want to know how this figure has been derived read on.
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This forecast has been made by a Sterne Agee analyst Shaw Wu who said in a note to investors that he expected the Cupertino company to sell 46.5 million iPhone 5s in the December quarter compared his earlier estimate of 46 million units.
Wu said that the reason he had raised his forecast by only half a million units was due to supply constraints associated with the production of its touchscreens.
The forecasts for the September quarter have also been revised.
Wu said he sees “$36.6 billion in revenue and $8.80 in earnings per share (from $36 billion and $8.65 in EPS) versus consensus at $35.7 billion and $8.69 in EPS and guidance at $34 billion and $7.65 in EPS.”
For fiscal year 2012 Wu estimates “$157.1 billion and $44.25 in EPS (from $156.6 billion and $44.11) vs. consensus at $156.1 billion and $44.18 in EPS,” and for fiscal year 2013, “$192.5 billion and $51.40 in EPS (from $191.4 billion and $51.20 in EPS) vs. consensus at $193 billion and $52.84 in EPS.”
The price target for Apple’s shares has been raised to $840 a share from $820. His rationale was despite “lukewarm reviews” of the iPhone 5, “we continue to believe many underestimate iPhone 5 in that it is a significant update and will drive a powerful product cycle.”
He added that he expected the new iPhone to sell faster than the iPhone 4 and any of the previous versions of the phone.