Piper Jaffray Sees Apple (AAPL) iPhone Sales Increasing Fivefold by 2015
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Rating Summary:
45 Buy, 29 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 6 | New: 31
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Piper Jaffray analyst Gene Munster said Wednesday that the long term growth estimates for Apple Inc.'s (NASDAQ: AAPL) iPhone are too low, specially in China.
The analyst sees Apple possibly selling over 200 million units of its popular smartphone by 2015, based on market growth of 35 percent, while some investors see growth slowing to 15-20 percent in 2012.
If Apple were to sell iPhones at this level in 2015, it would be a fivefold increase from the 40 million units the company sold last year.
Munster also sees the growth of the iPad as likely being stronger, with the two keystone products allowing for 25-30 percent growth rate through 2015.
Munster also sees Apple adding a strong presence in China with the addition of China Telecom as a carrier (90m subs) in 2011, while India's Reliance (110M subs) is also a possibility this year.
Piper Jaffray currently has an Overweight rating on Apple with a price target of $483.
Shares of Apple are up $1.43 to $340.04 in premarket trade on Wednesday.
The analyst sees Apple possibly selling over 200 million units of its popular smartphone by 2015, based on market growth of 35 percent, while some investors see growth slowing to 15-20 percent in 2012.
If Apple were to sell iPhones at this level in 2015, it would be a fivefold increase from the 40 million units the company sold last year.
Munster also sees the growth of the iPad as likely being stronger, with the two keystone products allowing for 25-30 percent growth rate through 2015.
Munster also sees Apple adding a strong presence in China with the addition of China Telecom as a carrier (90m subs) in 2011, while India's Reliance (110M subs) is also a possibility this year.
Piper Jaffray currently has an Overweight rating on Apple with a price target of $483.
Shares of Apple are up $1.43 to $340.04 in premarket trade on Wednesday.
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