UBS: iPhone 3GS should drive Q3 results
updated 11:00 am EDT, Tue July 21, 2009
UBS on Apple Q3 forecast
Apple's Q3 2009 results, set to be announced later today, should in large part be carried by the launch of the iPhone 3GS, says UBS analyst Maynard Um. While other analysts have focused on Mac sales, Um notes that AT&T is believed to have activated 2.5 million iPhones during Q3. Total iPhone shipments may therefore be closer to 6 million, beating out many other forecasts.
Overall revenue for the quarter is expected to be $8.1 billion, generating $1.20 in EPS. The new MacBook Pros should help, says Um, mainly in terms of luring people away from a $999 MacBook to spend on the base-level Pro, which costs $200 more. Investors are cautioned against being too optimistic however, as the global recession is continuing to have an impact on Apple sales.
Looking to the future, it is thought that Verizon could potentially carry a subsidized notebook from Apple this year. This would attract investor attention, Um comments, but might be hampered by high monthly fees. The carrier is meanwhile not expected to carry an iPhone until at least 2011.
