Analysts: iPhone Sales Appear Weak and 3 Other Research Notes to Explore
Apple (NASDAQ:AAPL): Citigroup says that it is “not enthusiastic” about the prospects for Apple’s new iPhones due to “disappointing innovation and high price.” Citi estimates iPhone5C pre-order units to be around 2.2 million, including China and Hong Kong, compared to iPhone 5 pre-orders of 2 million-plus. The firm notes that this is the first time China and Hong Kong, as well as Japan’s NTT DoCoMo, are part of the first phase of release. Citi estimates iPhone 5C and iPhone 5S sales for the upcoming first retail weekend to be around 7.75 million, compared to 7 million-plus for iPhone5. The firm has a Hold rating on Apple shares with a $430 price target.