Analyst Sees 10M iPhone 5 Sales in First Three Weeks

Bloomberg television reported this morning that Gene Munster believes that Apple can sell 10 million of the new iPhone 5 units in the first three weeks alone. This would be important because that gets the sales jammed into the current quarter, and it was just last quarter that Apple said that consumers were putting off iPhone 4s purchases in order to wait for the iPhone 5.

We would note that at the end of August Munster was looking out beyond the iPhone 5 and he was optimistic for three reasons. He hinted that Apple might cut the price down to $200 from closer to $375 to make the phone more accessible in many of the emerging markets. He was also positive on the rumored iPad mini, as well as the Apple TV launch. Munster said in August that it is becoming increasingly possible for Apple to make a lower-end iPhone for those emerging markets in a $130 to $150 range.

Munster rates Apple at Overweight and his price target is $910.

JON C. OGG