iPhone sales to continue sliding until next iPhone

iPhone sales to continue sliding until next iPhone
Sales of the iPhone have likely slowed down since Apple’s historic record shattering Holiday quarter, and the slowdown is expected to continue all the way by the launch of the new iPhone, expected in the third quarter of 2012, according to analysts from Canaccord.

The latest sales data from carriers seems to confirm the slowdown. Back in Q4 2011, Verizon Wireless sold 4.3 million iPhone, while in the first three months of 2012, the number slipped to 3.2 million.

This led to Walkley raising his target for Apple stock to $740, and holding by a “Buy” rating. The analyst expects Apple to post strong results on Tuesday, but he gave a lower earnings per share estimate for fiscal 2012 of $43.13, down from $44.58.

source: Canaccord via BGR

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