NEW YORK (
shares were up 1.11% to $456.64 as a research analyst noted that iPhone sales were performing better than he expected.
Mark Gerber said iPhone sales in North America have held up stronger than he thought, despite
having launched high-end phones in recent months. Gerber notes that sales at Verizon Wireless, a joint venture between
, has held up better-than-anticipated. "Based on our checks, we believe QTD share at Verizon Wireless is only off a couple percentage points sequentially and that iPhone5 continues to garner a larger percentage of iPhone share," Gerber wrote in his note.
Gerber notes that share at
has dropped more than it has at Verizon due to Samsung's Galaxy S4, but that S4 sales are only up 15% over Galaxy S III sales in North America. He now expects 30 million iPhone units to be sold in the June quarter.
Analysts polled by
are looking for Apple to earn $7.33 per share on $35.2 billion in revenue for the June quarter.
Apple is expected to refresh its iPhone lineup later this year. The iPhone 5S may have
, while many analysts are expecting Apple to also unveil a
in the September time-frame.
Written by Chris Ciaccia in New York