Analyst: New iPhones Could Invigorate Apple’s Current Quarter
Although Apple (NASDAQ:AAPL) is expected to unveil two new iPhone models at its upcoming media event on September 10, most Apple watchers don’t expect the new iPhones to be available until around September 20. For this reason, most analysts think that the new iPhones will have a minimal impact on Apple’s fiscal fourth quarter.
However, Pacific Crest analyst Andy Hargreaves begs to disagree. In a note to investors obtained by AllThingsD’s John Paczkowski, Hargreaves wrote that he believes Apple could sell 10 million new iPhones before the end of the current quarter on September 29.
Assuming the September 20 availability date is correct, this would mean that Apple would have to sell 10 million new iPhones in nine days. Including the old models, the analyst expects Apple to sell a total of 31 million iPhones in the fiscal fourth quarter. This would be slightly less than the previous quarter, when Apple sold a total of 31.2 million iPhones.