Piper Jaffray Expects 10 Million iPhone 5 Sales in Q3 2012
The decision of many consumers to wait until the release of the next Apple, Inc. (NASDAQ:AAPL) iPhone could lead to a banner week for the company in the third week of 2012, according to market research firm Piper Jaffray.
Noted Apple analyst Eugene “Gene” Munster’s latest note to investors says that about 6 to 10 million units of the iPhone 5 may be sold in its first week on the market; this would exceed the forecasts initially placed by Wall Street.
Earlier this week, official invitations were sent to journalists specializing in consumer electronics, hyping an event to be held on September 12. The number “12” was especially large in the invitation, with the number “5” forming the “12”’s shadow. This has been interpreted as a September 12 announcement for the so-called iPhone 5 (as it may now be called) by most who had seen the invitation.
With the revised forecasts, Apple’s iPhone sales for the September ending quarter may reach 28 million, an increase of 5 to 6 million from the original forecast of 22-23 million. According to Munster, the record sales could potentially improve Apple’s projected earnings per share to $8.46, an increase of 12 percent, while revenue may increase 8 percent to $35 billion.
The iPhone 5 is expected to be released on September 21, with new specifications and features such as 4G LTE, a high-end connectivity standard and a 4-inch touchscreen.