360° Coverage : Canaccord Genuity and Piper Jaffray Believe iPhones Hanging...

2 Updates
Canaccord Genuity and Piper Jaffray Believe iPhones Hanging Tough In Face Of New Smartphones
Photo Credit: Forbes Business

Canaccord Genuity and Piper Jaffray Believe iPhones Hanging Tough In Face Of New Smartphones

Mar 5 2014, 1:26pm CST | by

Canaccord Genuity’s Apple analyst Michael Walkley’s survey shows that the iPhone 5s has been the best selling smartphone at the four major U.S. carriers from October to February and believes that...

Filed under: news

 
 
 

33 weeks ago

Canaccord Genuity and Piper Jaffray Believe iPhones Hanging Tough In Face Of New Smartphones

Mar 5 2014, 1:26pm CST | by

Canaccord Genuity’s Apple analyst Michael Walkley’s survey shows that the iPhone 5s has been the best selling smartphone at the four major U.S. carriers from October to February and believes that iPhone’s can gain market share in the second half of 2014 when larger screen ones become available. Piper Jaffray’s Apple analyst Gene Munster surveyed 1,003 people about their smartphone purchase intentions and found that the 5s has decreased slightly from 38% post launch to 33% in February. (Note that my family and I own Apple shares and that I have sold put options, a bullish position). 

Canaccord Genuity’s Walkley had a number of meetings at the Mobile World Conference in Barcelona and his read is another confirmation that the high-end smartphone market is maturing from a feature perspective (along with lower unit growth rates especially in the developed countries). He projects that Apple’s iPhone could gain share in the second half of 2014 when it releases a larger screen iPhone due to customer loyalty and non-compelling features from Android smartphones. I personally have an iPhone 5 and am waiting for a larger screen one with Touch ID and plan to wait until my two years are up in September.

He also tracks the top three selling iPhones at AT&T, Verizon, Sprint and T-Mobile. The iPhone 5s has maintained the number one position at all four carriers from October through February while the 5c has fallen from the number three position in October and November to not being in the top three in at least January and February. The Samsung Galaxy S4 and Note 3 have been in the number 2 and 3 positions for the past two months, respectively.

Walkley raised his EPS estimate slightly for fiscal 2014 from $42.86 to $42.92 but significantly raised his fiscal 2015 projection from $47.56 to $49.96 based on higher iPhone unit estimates. This increased his price target from $570 to $600.

Source: Canaccord Genuity

Piper Jaffray’s Gene Munster surveyed just over 1,000 people on their next three month buying intention for smartphones. The main takeaway from the survey is that the iPhone 5s seems to be hanging in pretty well with its buying intentions decreasing from 38% right after it was launched in September to 33% in February.

One the flip side the 5c has moved from 12% of people planning on buying it to 6%. While overall the 5c has been additive to Apple’s results I believe almost everyone would agree, except Apple’s management publicly, that it has been a disappointment given its lower sales than expected.

Munster is projecting 37.5 million iPhones for the March quarter which would be flat from the March 2013 quarter and up 3% when adjusted for inventory changes. It would be down 25% from the December quarter, again adjusted for inventory changes vs. last year when they declined 21%. While China Mobile and NTT DoCoMo will help the March quarter results they have to make up for China Telecom and Unicom which launched the iPhone 5 in the March 2013 quarter but released the 5s in 2013.

Munster’s fiscal 2014 and 2015 EPS estimates are $43.23 and $43.54, respectively, and has a $640 price target.

Follow me on Twitter @sandhillinsight. You can find my other Forbes posts here.

Source: Forbes Business

 
Update
2

7 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slash ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

7 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Nigerian parliament approves $1 bn loan to fight Boko Haram
Lagos, Oct 23 (IANS) The Nigerian House of Representatives Wednesday approved President Goodluck Jonathan's request to borrow not more than one billion dollars to tackle the security challenges facing the country.
 
 
Kenya to train 30,000 health workers on Ebola
Nairobi, Oct 23 (IANS) Kenya has plans to train 30,000 health workers on Ebola screening, prevention, control and case management, the health ministry said Wednesday.
 
 
Germany pledges additional five mn euros to fight Ebola
Berlin, Oct 22 (IANS) Germany Wednesday said it would provide over five million euros ($6 million) in additional funds to promote Ebola research.
 
 
Indian-origin student named America's Top Young Scientist
Washington, Oct 22 (IANS) Sahil Doshi, a 14-year-old Indian-American student has won the 2014 Discovery Education 3M Young Scientist Challenge for his innovative, eco-friendly battery design that could help lower harmful greenhouse gases.
 
 
 

Latest from the Network

European Champions League standings
Paris, Oct 22 (IANS) Following are the European Champions League standings for Groups E to H after Tuesday's matches (tabulated under matches played, won, drawn, lost, goals for, against, points), according to Xinhua...
Read more on Sport Balla
 
Rogerio set to break Giggs world record
Rio de Janeiro, Oct 22 (IANS) Sao Paulo goalkeeper Rogerio Ceni is one victory away from earning his fourth Guinness World Record by eclipsing a mark held by Manchester United legend Ryan Giggs. The 41-year-old will...
Read more on Sport Balla
 
Ryan Reynolds can't keep his hands off Blake Lively
Ryan Reynolds was ''really sweet'' to Blake Lively at the Angel City Ball. The couple, who got married in September 2012, made their first red carpet appearance together in New York City on Monday night (10.20.14) since...
Read more on Celebrity Balla
 
Kris Jenner doesn't know who Bruce Jenner is dating
Kris Jenner has ''no idea'' whether Bruce Jenner is dating her best friend. The 58-year-old reality TV star, who split from the Olympic gold medallist last October after 23 years of marriage, claims she doesn't know if...
Read more on Celebrity Balla
 
When Rihanna dressed like 'Harry Potter'
New York, Oct 22 (IANS) Singer Rihanna was spotted here in a Harry Potter style costume. She wore the wizard-like get-up while heading for a business meal here Monday, reports mirror.co.uk. The 26-year-old combined a...
Read more on Celebrity Balla
 
Germany raises humanitarian aid to Iraq
Berlin, Oct 22 (IANS) Germany has pledged a further 20 million euros (about 25.5 million dollars) in humanitarian aid to Iraq, the foreign ministry said in a statement Tuesday. The additional funds are immediately...
Read more on Politics Balla
 
India calls on Israel, Palestine to resume peace process
United Nations, Oct 22 (IANS) India has called upon Israelis and Palestinians to resume the peace process as "dialogue remains the only viable option" to address the issues confronting the region. In a brief statement...
Read more on Politics Balla
 
Airstrikes help ground forces fight IS: Pentagon
Washington, Oct 22 (IANS) Kurdish forces are in control of the majority of the Syrian city of Kobane despite efforts by the Islamic State (IS) to take the town, a spokesperson for US defence department said Tuesday....
Read more on Politics Balla
 
Palestine, Israel urged at UN to halt unilateral initiatives
United Nations, Oct 22 (IANS) UN Secretary-General Ban Ki- moon Tuesday called on Palestine and Israel to overcome differences and halt unilateral initiatives that fuel mistrust, so as to pursue long-term stability in...
Read more on Politics Balla
 
China urges Israel to create conditions for peace
United Nations, Oct 22 (IANS) Chinese government has called on Israel to create necessary conditions for the resumption of peace talks with Palestine. At an open debate of the Security Council on the situation of the...
Read more on Politics Balla