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Apple Stock Watch

Analyst: iPhone 3G S Launch Looks Strong

Apple sold over a million iPhone 3G S units between June 19 and June 21, marking a solid launch weekend for the newest iPhone model. UBS analyst Maynard Um called the iPhone 3G S opening weekend "solid," and relatively successful.

"The solid, and likely better than expected, initial reception backs our survey results from Friday that highlighted a relatively successful launch," Mr. Um said.

Apple started selling the new iPhone 3G S on Friday, June 19. Shoppers lined up in advance of the 7AM store openings, and in some cases started their in-line waits a day in advance. iPhone sales seemed to remain brisk all weekend.

Mr. Um had been projecting Apple would sell about 4.5 million iPhones during its June quarter, but is considering raising that estimate. "Our current estimates for the June quarter call for 4.55 million iPhone shipments, which may prove conservative given the 1 million 3G S iPhones sold over the three-day period," he said.

While 16GB and 32GB iPhone 3G S sales were strong over the weekend, Mr. Um thinks that sales could start to shift towards the US$99 8GB iPhone 3G over time.

Mr. Um is maintaining his "Neutral" rating and $130 target price for Apple's stock. Apple is currently trading at $138.12, down 1.36 (0.98%).

3 comments from the community.

You can post your own below.

Tiger said:

While the $99 price point is indeed inviting, the fact that the new iPhone 3GS includes a new video enabled camera and compass clearly sets them apart. I would upgrade now if I could, but the restrictive policies AT&T has put in place for upgrading recent iPhone 3G customers is stifling. $400 to upgrade to a $200 phone after paying $200 5 months ago? Pass. And I get it that its about the subsidy. But AT&T can also take my 3G, refurb it, and make a tidy profit off of it selling it again, so who’s double dipping now?

   Quote

deasys said:

Mr. Um is maintaining his “Neutral” rating and $130 target price for Apple’s stock. Apple is currently trading at $138.12, down 1.36 (0.98%).

Going out on a limb there, Mr Um?

UBS analyst Maynard Um called the iPhone 3G S opening weekend “solid,” and relatively successful.

Um, right, um…“relatively successful.” Very good, Mr Um. Keep up the good work there, Mr Um—and remember to maintain ‘neutrality.’

   Quote

Sir Harry Flashman said:

“While the $99 price point is indeed inviting, the fact that the new iPhone 3GS includes a new video enabled camera and compass clearly sets them apart. I would upgrade now if I could, but the restrictive policies AT&T has put in place for upgrading recent iPhone 3G customers is stifling.”

Yes I am in the same boat, for me the new iPhone is a want and not a need. I will wait until next year when they may have a new phone and my 2 year contract is up.

   Quote

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