UBS: Apple sells 69 million iPhones in Christmas quarter, smashing estimates and breaking records
The proprietary UBS Evidence Lab iPhone Monitor is based on search results compiled from over 20 countries. The data is weighted using Gartner Market Statistics, and after adjusting for seasonal and quarterly conditions, a model is built using the years 2008-2012 as a base.
Apple was able to beat expectations for the calendar fourth quarter due to strong demand in China for the Apple iPhone 6 and Apple iPhone 6 Plus. That is the word from UBS' famed tech analyst Steve Milunovich. He says that China accounted for 35% of iPhone sales in this year's holiday quarter, up from 22% last year.
Milunovich predicts that Apple will report overall revenue of $68 billion for the period, up 18.1% from the $57.6 billion that Apple reported for the December quarter in 2013. The analyst is maintaining his buy rating on the stock, with a target of $125. Apple closed on Wednesday at $107.75, up $1.49 on the day.