• UBS: iPhone Shipments Expected to Hit 51 Million for the June Quarter

    According to the investment firm, UBS, Apple is reportedly set to announce yet another record breaking quarter, with iPhone sales once again driven to new heights. The prediction was mainly attributed to the iPhone sales made in China – a number which continues to see large growth. UBS analyst, Steven Milunovich, used data from the UBS Evidence Lab iPhone Monitor, stating that he expects that the Cupertino California company shipped 51 million iPhone units in the just-concluded June quarter.

    The research points towards large consumer demand for the iPhone, being at 49.4 million units in the June quarter. The extra inventory is set to replenish channels, which Milunovich believes has led the company to ship 51 million units during the three-month period, an increase from its previous forecast of 50 million.

    Apple’s continued growth seems to be sourced from China, where UBS’ data found that the search volume related to the iPhone is up 100% year over year. The investment firm also found that Apple is finding success in China at multiple income levels, with many consumers upgrading to more expensive smartphones like the iPhone.

    Milunovich also revealed that Apple seems to have the highest brand commitment level of any smartphone manufacturer that is currently in China, which means that consumers are likely to stick with the iPhone for their next upgrade. That being said, there are some concerns on Wall Street that states a slowing Chinese economy could be a risk for Apple but UBS economist, Tao Wang, said that the current turmoil in the Chinese stock market is not likely to have a significant impact on the nation’s economy. Wang cited data that showed that household wealth jumped 6% in just the last nine months.

    Milunovich wrote the following regarding the matter:

    The correlation between consumption and stock prices is ambiguous. We think Apple is okay for now, but we will watch the situation closely.
    The Cupertino California company is set to report its June quarter results after markets close in the US on Tuesday, July 21. We’ll find out more information at that time.

    Source: UBS via AppleInsider
    This article was originally published in forum thread: UBS: iPhone Shipments Expected to Hit 51 Million for the June Quarter started by Akshay Masand View original post
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