In a note to clients — as reported by “Barron’s” (http://macte.ch/1bJfy) — Canaccord Genuity analyst Mike Walkley has reiterated a Buy rating on Apple shares after rising his estimates for the company’s sales of the iPhone this quarter from 29 million units to 30.5 million units.
“Our November checks indicated strong global iPhone sales with Apple share gains versus Android smartphones in the US and Western Europe,” he says. The analyst also cut his quarterly estimate for the iPad to 14 million units from 13 million.
Why? Walkey thinks inventory is being drained ahead of the introduction of the next iPad, in March. He also notes that the iPad is facing hot competition from the Kindle Fire.