Another Analyst Gets More Bullish on Apple's (AAPL) iPhone...

UBS (NYSE: UBS) recently took a hard look at its Apple (Nasdaq: AAPL) iPhone numbers, and decided an adjustment was necessary.

The firm raised its first-quarter (the quarter ending in December) shipment estimate from a previous 28 million to 30 million, a 7.1 percent increase.

UBS is said to have made the call following AT&T's (NYSE: T) announcement earlier in the week smartphone sales in the first two months of the fourth quarter were already beating it's previous quarterly record.

UBS made the revised estimate at a recent tech conference.

AT&T's announcement is significant as about 36 percent of all mobile sales can be attributed to the iPhone.

For Apple's iPad, UBS is firm on 12 million units in the quarter, but noted the consensus estimate of 13 million in "achievable."

UBS bumped revenue expectations from $37.2 billion previously to a new mark of $38.5 billion. Earnings are now expected to be $9.90 per share, from a prior estimate of $9.47.

Earlier in the week, Oppenheimer got more bullish on iPhone prospects, as did Canaccord Genuity.

Ahead of the bell Thursday, Apple shares are up just 0.3 percent.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Generac Holdings (GNRC) PT Raised to $335 at UBS on durability and visibility of earnings trajectory
• Super Micro initiated at Neutral equivalent as AI boom offset by margin, legal ris
• UBS Reiterates Buy Rating on Packaging Corp. of America (PKG) Despite Possible Q2 Earnings Shortfall