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  • Physical Graffiti

    • 10 out of 10
    • Led Zeppelin
    • This album bears every flavor of genius from the five records that came before. It is, I believe, the band's finest. With Physical Graffiti, Zep came raging back to their musical home territory -- har
  • Chicago Transit Authority

    • 10 out of 10
    • Chicago
    • For those of you who don't know, Chicago didn't always suck, and everyone in the band didn't always play a keyboard. When the band started off they were pioneers of rock and jazz fusion, and guita

  • One Word Extinguisher

    • 8 out of 10
    • Prefuse 73
    • It's an album about a breakup, done with beats instead of mopey lyrics. But the beats are raw, and the emotions are there, even if there aren't many words on top of it. While possibly not Scott Herren
  • Mystics Anonymous

    • 8 out of 10
    • Mystics Anonymous
    • Mystics Anonymous is the brainchild project of Jeff Steblea, a fantastic songwriter and good friend of mine, as well. In fact, I even played the drums on all but one of the tracks on this album. Jef
  • Jagged Little Pill (Acoustic)

    • 6 out of 10
    • Alanis Morissette
    • Ten years after the original release, comes the traditional celebratory acoustic re-recording. The album has held up remarkably well. While it is not as meaningful to me as it was when I was sixteen,

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Barclay Analyst Lowers iPhone Estimates for December Quarter

iStockBarclay analyst Ben Reitzes has lowered estimates for iPhone shipments by Apple Inc. during the December quarter to five million units, down from his previous estimate of six million units. Mr. Reitzes cited the number of iPhones already in inventory at the end of the September quarter coupled with the current economic climate as the reasons for his change.

Apple had some two million iPhone already in inventory at the end of its fiscal 4th quarter, and Mr. Reitzes suggests that Apple will be busily moving some of that existing inventory in a market that many expect to be slow this holiday season.

Mr. Reitzes does leave some room for an upside surprise if Apple is able to enter the Chinese market in the last 6 weeks of the year, or if the company inexplicably starts selling iPhones at Wal-mart stores [Editor’s Note: We ask our readers to envision the nightmare of going through the phone activation at a Wal-mart.]

Other prediction included in the research note to clients obtained by include a possible entry level (i.e. cheap) iPhone in Q3 of 2009 and possible price cuts of the current iPhone models to stimulate sales in the first quarter of 2009.

Mr. Reitzes met with Apple execs, and reported that they were, "optimistic regarding Apple’s position, but realistic that we are faced with a very challenging environment."

Mr. Reitzes maintained his price estimates of $121 per share since we last covered one of his research notes.

In contrast, Piper Jaffray analyst Gene Munster maintained his estimates for 6.4 million iPhones for the December quarter. According to Mr. Jaffray, Apple is seeing lower unit sales in Apple Stores currently, but will benefit from having entered more international markets in recent months.

Shares in Apple closed at $88.14, down $2.10 (-2.33%) in moderate volume.

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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