Analyst: iPhone Sales to Hit 9.5M in June Quarter

| Apple Stock Watch

iPhone sales will hit the 9.5 million mark in Apple’s June quarter, according to Piper Jaffray analyst Gene Munster, thanks to the popularity of the iPhone 4. Mr. Munster’s previous June quarter iPhone sales estimate was 8.5 million.

Thanks to AT&T’s move that extended the upgrade eligibility window to include iPhone activations between September 2008 and June 2009, even more current subscribers are likely to move up to the iPhone 4. About 62 percent of current iPhone owners plan to upgrade, and another 19 percent are considering upgrading, according to a Wall Street Journal poll Mr. Munster cites.

“These numbers imply that 5.2 million AT&T (subscribers) could upgrade to iPhone 4,” Mr. Munster said.

He added that AT&T could see 1.3 million iPhone4 upgrades in the June quarter, assuming 25 percent of planned upgrades happen when the iPhone 4 ships on June 24.

Apple began accepting pre-orders for the iPhone 4 on June 15, although the process led to frustration for many customers thanks to overloaded servers. The new iPhone model will be available on June 24 in several countries, and Apple plans to be shipping the combination iPod and smartphone in about 88 countries by September.

Mr. Munster raised his target price for Apple’s stock from US$330 to $348. Apple is currently trading at $271.65, up 4.40 (1.65%).

[Thanks to AppleInsider for the heads up.]

Sign Up for the Newsletter

Join the TMO Express Daily Newsletter to get the latest Mac headlines in your e-mail every weekday.

Comments

aardman

Wondering what the folks running the WinPho division over in Redmond are thinking about iPhone 4’s smashing debut.  Especially with the rumored CDMA iPhone.  It’s bad enough for Android as it is.  Are we looking at another still birth for Microsoft?

nealg

The analysts numbers are all over the place right now. I don’t think you can depend on any of them except for a ballpark figure about what is going on.

By the number of preorders reported, I don’t know how many iPhone 4s Apple will sell this quarter but it sounds like the majority of phones sold will be the 3GS. It sounds like that will still be a pretty popular phone, which is good news for Apple investors because it sounds like the iPhone 4 will a very popular phone.

Neal

Log-in to comment