Oppenheimer forecasts 31 million iPhone sales for this quarter

Posted February 21, 2012 by Istvan in Mobile

Oppenheimer & Co’s Ittai Kidron has revised its forecast for fiscal Q2, raising his price target from $510 to $570.

The company sees a strong demand for the iPhone during this quarter, so it forecasts 31 million unit sales, up from its originally estimated 29 million. The other Apple best-selling product, the iPad, was also revised, with 1 million units. So, Oppenheimer expects to see 11 million iPads sold during this quarter, up from the previously announced10 million.

Kidron said the iPad sales were slowed down by the imminent launch of the iPad 3.

Strong iPhone demand. Our checks suggest a modest post-holiday slowdown in iPhone 4S demand and potential upside to our estimates. The iPhone 4S is consistently the most sought-after phone at all three carriers in the U.S., based on our store checks. International demand also looks good, with ample room to expand, particularly in China.

Via Barron’s