The iPhone is a phenomenal smartphone. Millions of people around the world love it and are dedicated users of Apple’s most iconic product. Now analysts are always giving out their point of view and William Power of R.W. Baird believes that spring iPhone sales will see a sharp fall off. He gives two reasons for this, first the increased competition from the likes of HTC and Samsung, and second the next generation iPad release, or lack thereof.
Power believes that the Street isn’t being realistic about the rapidly evaporating iPhone sales, and that the lack of a March/April iPad refresh depresses the year’s sequential comparison to last year. According to his estimates, Apple has sold 35.4 million iPhones and 18.1 million iPads in the quarter, resulting in $41.7 billion in revenue which is below the consensus of $42.7 billion. He also believes that revenue and earning-per-share will fall 14.1% and 14.% quarter over quarter to $35.9 billion and $8.39 per share. These numbers are different from the Street’s $39.3 billion and $9.23 per share estimates. Apple’s fiscal Q2 earnings report will come out on the 23rd of April and only then we’ll know for sure whether or not iPhone sales have been weak over the spring.
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