Apple: Street Expects Huge Demand For iPhone 3G

Published on June 16, 2008
by Eric Savitz

Apple (AAPL) shares are getting a boost this morning from a flurry of bullish analyst commentary.

Last week, of course, the stock was under pressure from speculation about the health of CEO Steve Jobs. Today, the focus is back on the iPhone 3G, which was introduced a week ago at the company’s Worldwide Developers Conference.

RBC Capital’s Mike Abramsky wrote this morning that he expects “massive” shipments of iPhones in the company’s fiscal fourth quarter ending September. He expects the company to sell 5.1 million phones in the September quarter, and 6.5 million in the December quarter. Abramsky also says he expects rising Street iPhone estimates to boost investor sentiment.

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