This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Apple's 'HD' iPhone Reloads Demand

NEW YORK ( TheStreet) -- Apple's (AAPL) redesigned iPhone could be a blockbuster hit, says an analyst at RBC. And the prediction is not necessarily based on the assumption of a Verizon (VZ) iPhone.

Citing a survey of 1,000 people, RBC's Mike Abramsky says 20% of the respondents intend to buy the fourth version of the iPhone due next month. This is more than twice the number of eager buyers surveyed prior to the original iPhone three years ago.

iPhone

Abramsky estimates Apple will sell 23 million of the redesigned "HD" iPhone this year, which is more than half of the 40 million iPhone sales estimate he has for 2010. Included in Abramsky's forecast is the arrival of a CDMA-based iPhone, "but not necessarily at Verizon this year," he says.

The timing of the new iPhone coincides with the expiration of the original two-year iPhone contracts and the large number of AT&T (T) customers eligible for phone upgrades.

Apple is expected to unveil its newest iPhone on June 7 at its developers' conference in San Francisco. A prototype of the new iPhone made a big splash last month when Gizmodo documented and displayed the device after purchasing it from a guy who claimed to find it at a Silicon Valley bar.

More on Apple iPhone
Apple Still Elusive on AT&T Exclusivity

The new design is a welcome refresh after three years with the original model. Gone is the shiny plastic curved back and the shiny chrome frame. The new iPhone appears to be flatter and have metal buttons on the side.

Respondents in RBC's survey expect the new phone to be faster and include an improved camera. But even casual observers will acknowledge that the strongest feature of the "HD" iPhone is that it is new and it's from Apple, which tends to play well with core fans.

The shiny new object did little for Apple shares Thursday, which fell 2% amid widespread selling. Apple is now down 6% in the past week, due largely to a jittery financial market focused on Europe.

--Written by Scott Moritz in New York.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs