Apple iPad, iPhone Sales Surging Into 2011
CUPERTINO, Calif. (
) -- All signs point to another big year for
Apple's
(AAPL) - Get Report
iPad
and
, according to equity research firm Canaccord Genuity.
"Everything that we're picking up is that the iPhone 4 is doing very well," Michael Walkley, an analyst at Canaccord told
TheStreet
. "We're hearing from industry contacts that they are doing very well in Asia-Pacific, Latin America, Western Europe, and at
AT&T
(T) - Get Report
."
|
According to Walkley, channel checks indicate that the iPhone is the top-selling smartphone at AT&T, despite the splashy launch there of new
Microsoft
(MSFT) - Get Report
Windows 7 smartphones and
Research In Motion's
(RIMM)
recent decision to slash the price of its AT&T-sold BlackBerry, the Torch.
The Apple iPhone has enjoyed
phenomenal success
since its launch in 2007, despite recent -- and ongoing -- user grumblings related to the
debacle. Apple sold 14.1 million iPhones during its recent fourth quarter, up from 7.4 million in the same period last year. Sales of iPhones and accessories brought in $8.82 billion, an increase of 92% on the prior year's quarter.
The iPhone is also becoming an increasingly common sight in the workplace, further increasing the pressure
on RIM's eponymous BlackBerry.
Next year's expected launch of a
Verizon
(VZ) - Get Report
iPhone and the iPhone 5 has helped spur Canaccord to raise its Apple earnings target from $18.33 to $18.84 for fiscal 2011. For the following year, Canaccord expects Apple earnings of $21.61, compared to its prior estimate of $21.06. Analysts surveyed by Thomson Reuters expect the tech giant to post earnings of $18.97 in fiscal 2011 and $22.06 the following year.
Canaccord, which maintained its Apple buy rating, also increased its estimate for fourth-quarter iPad sales from 5 million to 6.3 million on Thursday, again citing channel checks. Apple, it said, is benefiting from growing iPad distribution and improved supply, and should dominate the tablet market through calendar year 2012.
The research firm's estimates provide yet more evidence of the
in the aftermath of
strong Black Friday sales.
Analyst firm Piper Jaffray has predicted that
iPad sales could reach 21 million in 2011
, surpassing sales of the Mac. Morgan Stanley has also reported that Apple is
increasing its iPad production.
Apple shares gained 90 cents, or 0.28%, to $317.30 on Thursday as the Nasdaq gained 0.92%.
--Written by James Rogers in New York.
>To follow the writer on Twitter, go to
http://twitter.com/jamesjrogers
.
>To submit a news tip, send an email to: