What the Analysts Are Saying About Apple’s Q4 2015

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Apple closed its fiscal year with record iPhone sales – 48 million units – in line with the Wall Street consensus, pushing stock price up as analysts appear happy with the numbers they got yesterday. As usual, following the earnings call, analysts send a note to investors rating the Apple stock. We’ve picked a few from the notes spotted by Fortune’s Philip Elmer-DeWitt.

Daniel Ives of FBR says yesterday’s report was better than expected and points to Tim Cook’s forecast of year-over-year iPhone unit growth for the December quarter. Although it will be hard to match Apple’s Q1 2015 sales – 74.5 million units sold in just three months – Apple is positive the guidance suggests. And Gene Munster of Piper Jaffray adds that the company guided December 2015 revenue to between $75.5 and $77.5 billion vs. the Street’s $76.8 billion and his expectation for guidance of $74 billion.

In his note to investors, Walter Piecyk of BTIG emphasizes that Apple’s growth story remains intact, silencing earlier concerns. As revealed in the earnings report, sales in China continue to grow – 120% during the September quarter.

iPhone remains the name of the earnings game, says Katy Huberty of Morgan Stanley. She highlights the factors driving iPhone sales: (1) a strong position in emerging markets such as China, (2) continued upgrade cycle and 69% of users yet to upgrade to larger screens, (3) record Android switchers, and (4) an increase in average selling price.

Technology enthusiast, rocker, biker and writer of iPhoneinCanada.ca. Follow me on Twitter or contact me via email: istvan@iphoneincanada.ca