Munster: China Mobile to Boost Apple’s March Guidance
Apple (NASDAQ:AAPL) is set to report fourth-quarter earnings on January 27, but what investors and analysts are most looking forward to is the company’s guidance for the first quarter of 2014, rather than Apple’s results for the last three months of 2013.
At the end of last year, Apple finally cut a much-anticipated deal with China Mobile (NYSE:CHL), the world’s largest wireless carrier by subscribers. Analysts have been speculating wildly about how many iPhones the China Mobile deal will help Apple sell, and Apple’s earnings report will be a chance to hear some figures from the company itself.
According to the latest report from Piper Jaffray analyst Gene Munster, seen by Wall St. Cheat Sheet, Apple will announce that it plans to sell approximately 3 million iPhones on China Mobile during the first quarter and give revenue guidance about 2 percent ahead of average estimates from the Street.