Apple (AAPL) Pre-Order iPhone News 'Mixed', Says Bernstein's Sacconaghi

Bernstein analyst Toni Sacconaghi was the latest to weigh in on Apple (NASDAQ: AAPL) iPhone 6S pre-order news. Apple stated this morning that iPhone 6S orders were “very strong around the world” and that Apple is “on pace” to surpass last year’s first weekend sales of 10M units.

Sacconaghi views the news as "mixed."

"On one hand, first weekend sales that will be higher than last year’s is clearly a positive, given how strong the iPhone 6 cycle was," he said.

He added, "However, Apple did not provide this figure today, raising the question of whether it *might* be lower than last year’s total of 4M. Additionally, the iPhone this year is available for pre-order and for delivery on day 1 in China, and based on lead times, demand for the 6S appears very strong in China."

Further, he said“first weekend sales” is really a reflection of Apple’s ability to supply phones, rather than a reflection of customer demand.

The firm maintained an Outperform rating and price target of $135 on the stock.

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 $114.21 yesterday.

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