Analyst: Apple Barometer Indicates Strong September Sales
Apple (NASDAQ:AAPL) recorded strong sales growth in September wrote Cantor Fitzgerald analyst Brian White in a recent note to investors. White based his September sales estimate on information from his “Apple Barometer,” an index of Taiwan-based suppliers that provide many components for the iPhone maker.
According to White, the Apple Barometer indicated that September sales rose approximately 9 to 10 percent month-over-month. He noted that this rate of growth is close to the average rate of growth that has been seen in the previous eight years.
Although this would seem to indicate that Apple’s sales will be similar to previous launches, the analyst also pointed out that Apple switched from summer iPhone launches to fall iPhone launches in 2011. This makes it difficult to derive any useful conclusions from this long-term September sales comparison. However, White believes that Apple is definitely beating its MoM growth rate from last September. Last year, Apple recorded a 3 percent MoM growth rate, well below this year’s estimated rate of 9 to 10 percent.