Morgan Keegan analyst, Tavis McCourt, has revised downwards
his projections for sales of the iPad in Apple’s first fiscal quarter of 2012,
which ended in December. McCourt now believes that only 13 million iPads were
sold in the quarter, down from his previous projection of 16m.
He also states that the Kindle Fire would have sold between
4-5m units over the festive season, which would have hit iPad sales by up to 2m
However, while iPad sales may be down, the iPhone continues
to sell well with McCourt upping his projections for the quarter from 27m to
29m. Macs continue to sell well according to the analyst, who has slightly realigned
his projection downward from 4.9m to 4.8m sales in the quarter.
“In sum, we believe December will turn out to be another
great quarter for Apple with share gains in Mac and iPhone product lines, and
continued strong growth in iPad, although slightly slower than we originally
anticipated,” he writes in a research note.
“We expect Apple to continue to show strong growth in fiscal
2012 with the success of a forthcoming iPad upgrade and continued sales of
iPhone 4S being the major determinants of what rate Apple can grow this year.
We expect iPhone 5 in fall 2012 to be a significant revenue and earnings growth
driver, and a potential Apple TV as upside to our model if it comes to fruition
this year. We do expect year-over-year growth to be somewhat more challenging in
March/June for Apple due to tough
comparisons from fiscal 2011.”