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Yet another analyst has thrown his name into the low-end iPhone speculation ring, suggesting that Apple (NASDAQ:AAPL) will be releasing the device in the June or July time frame. In a note to investors, Amit Daryanani of RBC Capital Markets said that he received information indicating that Apple intends to release ”multiple new phones” over the summer. Presumably, this refers to the iPhone 5S and the company’s much anticipated cheaper iPhone model, aimed at emerging markets such as China or India.
“The low-end iPhone will have the same 4-inch form factor as the iPhone 5, but will have a plastic casing and no Retina display,” he said. “With a lower price point, AAPL will be able to target a growing and important part of the smartphone market (sub-$400 price band).”
Although Daryanani believes that the lower priced phone will carry with it lower margins for the company, he also expects that such a product would contribute another $22 billion in revenue and more than $5 in earnings per share for 2014, which he believes would add $50 of value to Apple’s stock price.
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