Mike Abramsky, director of RBC Capital Markets Managing, says that in 2011 Apple could sell approximately 70 million iPhones. This statement is based on the sales that Apple would record in the coming months, and here we include the recently launched iPhone 4 CDMA for which sales of 9-10 million units are estimated until the end of the year. Of course, Mike Abramsky also took into account the fact that in the summer of this year Apple will launch the iPhone 5, a device from which new sales records are expected and Apple is the kind of company that produces devices that sell very well.
In a price target revision sent to investors Wednesday morning, RBC Capital Markets Managing Director Mike Abramsky raised the firm's target for Apple stock to $395 from $365. RBC also raised its revenue estimates, speculating that increased demand and new product launches would drive Apple's revenue to $90.8 billion in the 2011 fiscal year and $103.3 billion in 2012. Abramsky's revised figures put Apple's first quarter revenue at $25 billion, above the Street's consensus of $24.2 billion, and the second quarter will dip slightly to between $20 and $21 billion.
The same analyst claims that next year Apple will collect over 90 billion dollars from sales, and in 2012 103 billion dollars. Apple has recorded substantial growth year after year and it is possible that these predictions will come true if Apple manages to produce equally popular devices this year and next year. If Apple reaches the target of 70 million terminals sold in 2011, then the company's global market share will reach 19%, still far below Nokia.
