Apple (AAPL) Could Sell 50M iPhones this Quarter - Analyst

November 26, 2012 4:45 PM EST
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Analysts at Barclays discussed sales trends at Apple (NASDAQ: AAPL) as the holiday season kicks off.

The firm notes that their checks showed that sales momentum is picking up heading into December, supported by increased availability of and demand for iPhones and iPad minis. "In Apple's stores nationally, we saw a surge in availability for the iPhone 5 and iPad mini - with shipments arriving late Wednesday for most stores."

On the iPhone, the firm said given the increased availability it now seems much more likely that Apple can deliver upside to their C4Q12 estimate for iPhone unit sales of 43.5 million. They also see 43.5 million in the March quarter. "Our checks with the supply chain and with our colleagues in Asia indicate that Apple's production of the iPhone 5 could even support unit sales of over 50M this quarter."

On the iPad, the firm believe there is modest upside to their estimate for 21.2 million iPads including 6.5 million iPad minis for C4Q12. "Checks indicate availability of the iPad mini is improving significantly, although we expect supply to be constrained into the March quarter, but still feel that the supply chain can produce at least 8 million units in the December quarter."

The firm maintained an Overweight rating and price target of $800 on Apple.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $571.50 yesterday.

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