JP Morgan revises Q4 iPhone estimate: "Santa's sleigh needs more room for iPhones"

JP Morgan revises Q4 iPhone estimate:
Investment bank JP Morgan revised their estimate for iPhone shipments during this Holiday quarter, increasing them noticeably to the whopping 28 million. Apple’s revenue is now projected at $38.69 billion, enough to make JP Morgan analyst Mark Moskowitz exclaim: “Santa's sleigh needs more room for iPhones."

The previous forecast placed Holiday quarter iPhone shipments at 25.3 million, a difference of nearly 3 million before and after. Moskowitz also mentions that US carriers were literally “surprised” to see the huge and growing demand for the iPhone 4S, while iPhone 4 and 3GS sales remained strong as well.

If JP Morgan’s analysis comes close to the truth, this Holiday quarter ending in December will be the best for Apple, beating its previous record in Q2 by a large margin. In the second trimester of the year, Cupertino sold 20.3 million iPhones.

JP Morgan’s report is more optimistic than the average opinion of the Street where Apple’s revenue is expected to near $38.02 billion with $9.78 earnings per share (EPS). Moskowitz in contrast places EPS at $9.87.

With the bump in Holiday sales estimates, the report also revised the 2012 and 2013 outlook for Apple. In 2012, Moskowitz said expectations were for 105.5 million handsets sold, while for 2013 that number is to jump to 121.7 million.

Interestingly, JP Morgan cooled down its iPad forecast to 13 million, down from 13.3 million, citing “limited uplift in build quality” as the reason. Another small factor contributing to the revised number is the impact of the Amazon Kindle Fire which he described as having better-than-expected momentum with those looking for a cheaper tablet.

Do you agree with the investment bank’s revised statement about Apple’s Holiday sales? How do you think the company will do this trimester?

source: JP Morgan via AppleInsider

Related phones

iPhone 4s
  • Display 3.5" 640 x 960 pixels
  • Camera 8 MP / 0.3 MP VGA front
  • Processor Apple A5, Dual-core, 800 MHz
  • Storage 64 GB



1. The_Miz

Posts: 1496; Member since: Apr 06, 2011

First. People want a capable device for Christmas. And Apple devices are extremely popular. Other than getting sweet pleasure from my girl, I want an iPad for Christmas.

2. aruegas

Posts: 9; Member since: Mar 04, 2011

This article is a fact. But android fanboys of course have another fact where the ip4s is not doing well and Apple is once again in the verge of bankcruptcy :)

11. jamrockjones

Posts: 345; Member since: Oct 26, 2011

@The_Miz: Yikes, too much info!

3. rf1975

Posts: 264; Member since: Aug 01, 2011

Please guys do not start hate wars. This is a tech site. So use this for share your knowledge and information. People who like iOS or Android thats depend on their interest. What ever people say iPhone 4S is a good device. There are other good device out there too.

4. readingthissh1t

Posts: 303; Member since: Jul 20, 2011

lets hope this article stays calm. i want a nexus, my friends want iPhones. Calmly stated.

5. iTaco

Posts: 3; Member since: Dec 01, 2011

I believe 28 million is a conservative estimate. I think iPhone will get close to 40 million. It's hands down the best phone on the market right now.

12. EclipseGSX

Posts: 1777; Member since: Oct 18, 2011

if you determine best by most sold, then McDonalds has the best burgers...

6. HTCiscool

Posts: 449; Member since: Jul 16, 2011

28 million! That's a rather huge amount, but the award for most shipped goes to the SGSll and the iPhone4. iPhone4: 47 million units SGSll: 44 million units Thunderbolt + EVO4G: 30 million units Droid Bionic: 14 million units This would probably still make the SGSll the winner for volume, with the HTC Sensation, and galaxy Nexus sitting at around 5 million units each.

7. Striker

Posts: 92; Member since: Nov 06, 2011

Your statistics about the Sumsang is rather wrong. There is no such thing as SGS2 44million. I'd rather say all galaxies combined make about 35-40, no more.

10. networkdood

Posts: 6330; Member since: Mar 31, 2010

Well, that does it - I better stop thinking for myself, go with what is popular, rather than what is the best, trade in my 4G LTE phone for a slow 3G VERIZON Iphone 4S. Thanks, phonearena, I just do not know what I would do without you and your awesome fellowship of avid iphone readers.

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit for samples and additional information.