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Apple (AAPL) iPhone 6 sales have remained strong, despite growing chatter about the company’s follow-on smartphone likely to be released in September. UBS analyst Steven Milunovich on Thursday raised his iPhone unit sales target for the June quarter. UBS pegs iPhone demand for the current quarter at 51.1 million units, well above the Wall Street consensus sell-through estimate of about 45 million, he said in a research note. Apple reports iPhone sales on a sell-in vs. sell-through basis. So, adjusting for supply issues and sales channel inventory changes, UBS raised its sell-in estimate to 48 million units from 43 million. With the higher iPhone sales, UBS increased its fiscal 2015 earnings-per-share estimate to $9.17 from $9.04. Analysts polled by Thomson Reuters expect Apple to deliver EPS of $8.99 for the fiscal year ending Sept. 26, up 39%. Milunovich rates Apple stock as a buy with a 12-month price target of… Scalper1 News
Scalper1 News