Morgan Stanley expects the next iPhone to be “one of the most significant product cycles in two years.”
Analyst Katy Huberty believes the handset will lead a strong Q4 performance.
“We are buyers of Apple shares heading into one of the most significant products cycles in two years — the iPhone 5 launch this fall,” Huberty told investors in a note today on Tuesday. “We expect new products, emerging market growth and sustainable margin expansion to drive outperformance.”
Source: Morgan Stanley
However, she also estimates that possible iPhone and Mac shipments for the June-ending quarter may be close to the firm’s below-consensus estimates, at 27 million units and 4.1 million units, respectively.
Apple’s earnings report for the June quarter, its third fiscal quarter, is scheduled to be published on July 24.
Huberty expects Apple to bring in $35.1 billion on gross margins of 43.1 percent to end the period with an EPS of $9.45.
The analyst believes the estimates don’t reflect “shipment seasonality” ahead of expected product refreshes.