iPhone Sales to Top 173 Million in 2013
Apple is well-positioned for strong 2013-2014 sales and earnings growth, driven by product introductions, including the recently launched iPhone 5, Canaccord Genuity says.Apple's latest version of its popular smartphone, the iPhone 5, is helping drive sales of the device ever higher, according to an analyst at Canaccord Genuity, who said sales of the iPhone could reach 173 million units this year. "Based on our analysis, we believe demand for the iPhone 5 was very strong during the December quarter," Canaccord Genuity analyst Michael Walkley wrote in his research report published Jan. 7. "Given this strong demand, combined with our expectations, Apple could launch new iPhone products earlier in 2013 than the past couple years. We maintain our above-consensus 2013 iPhone unit sales estimate of 173 million." Walkley also adjusted his annual revenue estimates for 2013, to $200.3 billion from $200.2 billion, and for 2014, to $223.94 billion from $223.87 billion. He noted Apple's industry-leading software ecosystem and its leading hardware expertise will lead to a strong product cycle for its key products. "We believe Apple is well-positioned for strong 2013/14 sales and earnings growth driven by new-product introductions, including the recently launched iPhone 5, iPad Mini and recently refreshed iPod, MacBook and iMac lineup," he wrote.
The iPhone 5, widely acclaimed as one of the best smartphones on the market, has continued Apple's strong foray into the highly competitive smartphone space. Even Consumer Reports, which has come down hard on Apple in the past, lent its stamp of approval to the latest model. The iPhone 5 is "the best iPhone yet" and among the best smartphones in its official rankings, the consumer watchdog announced in an Oct. 5 blog post.