Analyst: Launch weekend sales for the Apple iPhone 6 and Apple iPhone 6 Plus could disappoint

Analyst: Launch weekend sales for the Apple iPhone 6 and Apple iPhone 6 Plus could disappoint
Bernstein analyst Toni Sacconaghi doesn't want to rain on Apple's parade, but you might want to carry an umbrella after listening to the Wall Streeter. Despite a record number of pre-orders for the Apple iPhone 6 and Apple iPhone 6 Plus, Sacconaghi is convinced that the number of launch weekend orders could fall short of the 9 million tallied last year for the Apple iPhone 5s and Apple iPhone 5c.

The analyst says that there are three main reasons why last year's opening weekend sales might not be topped. One is the announcement made by Apple that 4 million units of both phones were pre-ordered. The analyst says this figure, and the expected delivery date for new orders, is a sign that supplies are tight. In addition, unlike last year, China is not included as a launch country. This removes quite a large number of potential opening weekend orders. Lastly, unlike last year when the Apple iPhone 5c was released at a lower price than the iPhone 5s, this year there is no low priced SKU for those seeking an iBargain.

Sacconaghi told his clients that the 4 million units pre-ordered is a positive sign. He also states that first-weekend sales are usually more a function of supply rather than demand. While some expect Apple to sell 10 million iPhone 6 units this weekend, the analyst expects that Apple will actually report first weekend sales of 7 million to 8 million units. The analyst says that this is not the end of the world for Apple and continues to have an Outperform ranking on the stock, with a target of $108. Apple closed on Wednesday at $101.58.

Thanks for the tip Suzanne!

source: StreetInsider

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