RBC: ‘iPads Outselling Hotcakes,’ iPhone 5 Due in September
RBC Capital Markets Managing Director Mike Abramsky on Tuesday reiterated the firm’s position that sales of popular Apple products like the iPad 2 likely helped Apple record an impressive fiscal second quarter.
In a note to investors, Abramsky wrote that tremendous demand for Apple’s iPad 2 tablet along with solid sales of the iPhone 4 (17 million units) and Apple’s refreshed MacBook Air and MacBook Pro notebooks (3.6 million total Macs) may have led to $24 billion in revenue in the second quarter.
The figure would represent 78% growth over the same quarter last year, and is above Wall Street’s consensus of $23 billion.
RBC sees Apple having shipped 7 million iPads in the second quarter, which includes 2-3 million iPad 2 units and is down 5% from the year prior. The firm estimates 8 million third-quarter iPad shipments, and also notes that Apple will likely launch the iPhone 5 in September — but if it instead launches in June, it could add $1.2 billion to the firm’s $23-$24 billion third-quarter revenue estimates.
RBC adjusted its full-year iPad sales forecast up from 25 million to 31 million units, thus pushing its fiscal 2011 revenue estimates from $99 billion to $102 billion and possibly helping Apple to cross the $100 billion milestone for the first time.
Apple will report its fiscal second-quarter earnings on April 20.
This content was originally published on BGR.com
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