Ha! What Recession as Apple (AAPL) Looks for $1.2B in Sales for Opening Weekend
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Price: $168.00 -0.81%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
Revenue Growth %: -4.1%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
Revenue Growth %: -4.1%
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An astronaut returning from space after five years of deployment would have a hard time believing that the world is facing a global economic recession after seeing that Apple (Nasdaq: AAPL) is expected to sell between 2 and 4 million iPhone 4S units in its opening weekend. Hell I am having a hard time believing it.
Rumors and estimates are flying as analysts try to imagine the exact number of iPhone units Apple will sell. An analyst from Yankee Group forecasts that as many as 4 million iPhone 4Ss will be sold between today and Sunday around the world. Lines began forming in the early hours as people try to get their hands on the latest and greatest thing to come out of Apple.
Apple is selling its new 4S phone for between $199 and $399 and it has been reported that service providers AT&T (NYSE: T), Verizon (NYSE: V), and Sprint (NYSE: S) are already sold out. Assuming that Apple does sell 4 million units in the opening weekend, at an average price of $300 per unit, the company would generate $1.2 billion in sales in just the opening weekend.
With people rushing out to purchase the new iPhone, is the world really fearing a economic turmoil? Or are people beginning to see a turnaround? Signs of a turnaround are present as the market has recently moved into the green for the year and companies report relatively solid third quarter earnings, so far. JPMorgan (NYSE: JPM) topped earning expectations by $0.06 while Google (Nasdaq: GOOG) beat by $0.98.
One question that really needs to be answered is, how many people left the "Occupy Wall Street" protest to go and buy the new iPhone 4S?
Shares of AAPL are trading up 2.25 percent in the early hours of trading to $417.60.
Rumors and estimates are flying as analysts try to imagine the exact number of iPhone units Apple will sell. An analyst from Yankee Group forecasts that as many as 4 million iPhone 4Ss will be sold between today and Sunday around the world. Lines began forming in the early hours as people try to get their hands on the latest and greatest thing to come out of Apple.
Apple is selling its new 4S phone for between $199 and $399 and it has been reported that service providers AT&T (NYSE: T), Verizon (NYSE: V), and Sprint (NYSE: S) are already sold out. Assuming that Apple does sell 4 million units in the opening weekend, at an average price of $300 per unit, the company would generate $1.2 billion in sales in just the opening weekend.
With people rushing out to purchase the new iPhone, is the world really fearing a economic turmoil? Or are people beginning to see a turnaround? Signs of a turnaround are present as the market has recently moved into the green for the year and companies report relatively solid third quarter earnings, so far. JPMorgan (NYSE: JPM) topped earning expectations by $0.06 while Google (Nasdaq: GOOG) beat by $0.98.
One question that really needs to be answered is, how many people left the "Occupy Wall Street" protest to go and buy the new iPhone 4S?
Shares of AAPL are trading up 2.25 percent in the early hours of trading to $417.60.
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