Stocks to watch on Monday: EADSY, PCH, TSLA >>> READ MORE

Apple’s Revenue Estimates Way Too Low, Says Gene Munster

Third-quarter revenue risk is no longer an issue


Apple (AAPL) is up oer 3% in mid-day trading to just over $56 per share!

aapl-stock-apple-stocksThe stock is moving after Apple confirmed that it has a deal with China Mobile (CHL) the world’s biggest wireless carrier.

Apple will start selling iPhones on China Mobile on January 17, which Piper Jaffray (PJC) analyst Gene Munster says “de-risks” the March quarter. In other words, there was concern of a weak March quarter, but with a fat new customer, Apple should sell a lot of iPhones.

Munster is calling for 17 million iPhones to China Mobile next year, and says the deal will add 5% to analyst estimates for revenue in fiscal 2014. (So, expect analysts to start upping their estimates.)

What a difference a year makes for Apple.

At this time last year, the stock was in free fall as everyone believed the company’s iPhone sales had hit a wall.

Today, it has a new distribution partner, and it’s geared up for a big 2014 with new iPhones, and perhaps entirely new product categories.

See Also:

Read More:

5 Things to Know About Apple-China Mobile Deal

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC