Deutsche Bank’s Chris Whitmore this morning reiterates a Buy rating on shares of Apple (AAPL) and a $530 price target, writing that his “checks” of online and retail outlets for the company’s iPhone 4S reveal “demand continues to track very strongly.”
Whitmore finds lead times are around two weeks in the U.S. and one to two weeks in the 22 other countries where the device went on sale on October 28th. Supply is “still a gating factor,” he writes.
Our retail checks reveal Apple is experiencing daily stock outs at ~85-90% of the ~30 retail stores we called. Apple employees are directing customers to make an online appointment (first come first serve) for next day pick up at nearby Apple retail stores as stocks appear to be refreshed daily at most locations.
Whitmore reiterates a 28-million unit forecast for the current quarter’s total iPhone sales.
Apple shares today are down $2.15, or half a percent, at $398.09.
No comments:
Post a Comment