Apple share price: Company poised to sell 71.5 million iPhones in Q1

on Nov 25, 2014
Listen, Tuesday, November 25: Apple Inc (NASDAQ:AAPL), the world’s largest technology company, will ship nearly 72 million iPhones in the holiday quarter, an analyst has predicted.
Apple-focused website AppleInsider reported over the weekend that the Cupertino-based company would ship 71.5 million handsets in its fiscal first quarter, citing a recent report by KGI analyst Ming-Chi Kuo. This would be a 40-percent increase over the 51 million iPhones the tech giant sold a year earlier and an 82 percent jump from the fourth quarter.
According to Kuo, the strong performance will be driven by robust iPhone 6 sales, which will account for 60 percent, or 41.65 million, of all iPhone sales for the quarter.

The introduction of the new iPhone models marked a major shift for Apple, which for long time resisted releasing phones with screens larger than four inches. If the figures forecast by Kuo are accurate, this would be evidence that the company’s decision to finally jump on the ‘phablet’ bandwagon has been a good one.
In today’s trading, Apple shares were up 0.2 percent at $118.88, as of 15:04 UTC.
*h*Second quarter*h*
Kuo’s forecast for the first quarter of 2015 (Apple’s fiscal second quarter), however is not as upbeat. The analyst predicts a significant quarter-on-quarter drop, mostly due to poor off-season demand. Kuo sees total iPhone shipments coming in at nearly 50 million, including 21.6 million iPhone 6 handsets and 10.2 million iPhone 6 Plus versions. However, the older 5C and 4S models would see significant quarter-on-quarter growth of 77.3 percent and 58.2 percent, respectively, the analyst said.
*h*Analysts on Apple*h*
According to the Financial Times, the 42 analysts offering 12 month price targets for Apple have a median target of $120.00, with a high estimate of $143.00 and a low estimate of $60.00. As of November 22, 2014, the consensus forecast amongst 84 polled investment analysts covering Apple has it that the company will outperform the market. The same consensus forecast has been maintained since the sentiment of investment analysts deteriorated on September 29, 2011, the FT notes.
**As of 15:35 UTC buy Apple shares at $119.40**
**As of 15:35 UTC sell Apple shares at $119.39**

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