As analyst after analyst expresses concerns about Apple Inc. (NASDAQ:AAPL)’s iPhone shipments during the second quarter, one analyst’s views are in stark contrast to the norm. Morgan Stanley analyst Katy Huberty believes the company will come out far ahead of consensus. She’s estimating at least 29 million iPhones shipped during the quarter, compared to the consensus of 26.5 million iPhones.
Huberty sees high demand for Apple’s iPhone
According to the analyst, data from a handful of sources indicates that Apple Inc. (NASDAQ:AAPL) shipped between 29 and 32 million iPhones during the second quarter of the year. She said Morgan Stanley’s AlphaWise Smartphone Tracker and information from Simon Flannery, a U.S. telecom analyst, combined with checks of Apple Inc. (NASDAQ:AAPL)’s supply chain indicate the higher estimate.
Huberty believes that demand was strong for the deep discounts offered on Apple’s iPhones, and she predicts that the company will come out ahead of consensus when it reports second quarter earnings next week. She’s predicting $36 billion in revenue, compared to the $35.1 billion consensus.
Apple’s Q3 looks bleaker
She believes though that Apple Inc. (NASDAQ:AAPL)’s third quarter is where the problem area is. She thinks consensus is actually too high, especially because of how iPhone sales typically slump in the months before the launch of the next model. For the third quarter of the year, she’s estimating revenue of between $33.5 billion and $35.5 billion, compared to the consensus of $37.8 billion.
Huberty believes the company’s next iPhone will be released in late September. In fact, she predicts that the next iPhone will be the 5S and that it will be accompanied by a low-cost model and a new iPad.
Apple reports earnings July 23
The next earnings report from Apple Inc. (NASDAQ:AAPL) is due July 23, but we might get some clues about iPhone shipments from Verizon Communications Inc. (NYSE:VZ)’s earnings report this week, which could indicate how many iPhones the carrier sold during the second quarter.
