Although it has yet to be confirmed by either Verizon or Apple, Piper Jaffray analyst Gene Munster has ramped up his iPhone sales estimates for 2011, fully "baking" in sales for a Verizon model of the popular iOS smartphone.
Rumors have been flying around for months that a Verizon iPhone is ready for launch in the Q1 2011 and Munster believes a CDMA iPhone is indeed on the way.
In a note to clients, Munster said:
Munster's estimates model places the Verizon launch around April, or at least somewhere in the early Q2.
Giving shareholders something to cheer about, Munster moved his expected price target for Apple to $438. The stock closed after hours today at $319.66.
In a note to clients, Munster said:
"We previously had Verizon partially baked into our model along with some cannibalization built in for iPhones sales at AT&T, but an early- or mid-[calendar year 2011] launch at Verizon is now fully baked into our CY11 estimates."
Munster's estimates model places the Verizon launch around April, or at least somewhere in the early Q2.
Giving shareholders something to cheer about, Munster moved his expected price target for Apple to $438. The stock closed after hours today at $319.66.
