RBC: ‘iPads outselling hotcakes,’ iPhone 5 due in September
RBC Capital Markets Managing Director Mike Abramsky on Tuesday reiterated the firm’s position that sales of popular Apple products like the iPad 2 likely helped Apple record an impressive fiscal second quarter. In a note to investors, Abramsky wrote that tremendous demand for Apple’s iPad 2 tablet along with solid sales of the iPhone 4 (17 million units) and Apple’s refreshed MacBook Air and MacBook Pro notebooks (3.6 million total Macs) may have led to $24 billion in revenue in the second quarter. The figure would represent 78% growth over the same quarter last year, and is above Wall Street’s consensus of $23 billion. RBC sees Apple having shipped 7 million iPads in the second quarter, which includes 2-3 million iPad 2 units and is down 5% from the year prior. The firm estimates 8 million third-quarter iPad shipments, and also notes that Apple will likely launch the iPhone 5 in September — but if it instead launches in June, it could add $1.2 billion to the firm’s $23-$24 billion third-quarter revenue estimates. RBC adjusted its full-year iPad sales forecast up from 25 million to 31 million units, thus pushing its fiscal 2011 revenue estimates from $99 billion to $102 billion and possibly helping Apple to cross the $100 billion milestone for the first time. Apple will report its fiscal second-quarter earnings on April 20th.
Posted on April 15, 2011, in Apple, Gadgets, Information, Mobile Phones/Tablets, News and tagged apple, AT&T, forecast, Guidance, iPad, iPad 2, iPad sales, iPad shipments, iphone, iphone 4, iPodRohan, Japan, Mike Abramsky, profit, RBC, revenue, rohan sood, shipments, stock, verizon, Verizon iPhone, verizon wireless, VZW iPhone. Bookmark the permalink. Leave a comment.