updated 12:12 pm EST, Mon December 3, 2012
iPhone 4 sold out in many US locations
Although the iPhone 5 sales have been "very strong" at US carriers AT&T, Verizon, and Sprint, the two older iPhone models -- the iPhone 4 and 4S -- are also doing well, says Canaccord Genuity analyst Michael Walkley. The claims are based on channel checks, and moreover indicate that the iPhone 4 is actually selling out at some stores. In the US, the 4 is typically free if a person locks into a two-year carrier contract.
Walkley notes that Apple has been catching up on supplies for the iPhone 5. For the current quarter he estimates that Apple will sell 47.5 million units, which would be a 77 percent increase quarter-to-quarter. The analyst is holding to an $800 price target for Apple stock.