This Day On The Street
Continue to site right-arrow
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 - Get Report) 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 - Get Report) 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.


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 - Get Report) 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
T $32.97 0.00%
VZ $49.12 0.00%
AAPL $126.37 0.00%
GOOG $552.03 0.00%
FB $83.20 0.00%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

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