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Ahead of the Bell: Analyst sees brisk iPhone sales
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NEW YORK - An analyst says he expects sales of Apple Inc.'s newest iPhone in its first weekend alone to quadruple those of its predecessor.
Apple's latest iPhone, which offers expanded features and operates on faster third-generation wireless networks, goes on sale Friday.
RBC Capital Markets analyst Mike Abramsky says iPhone sales will be helped by pent-up demand, expanded distribution and lower prices. He predicts the company will sell 1 million units in the first weekend and 6.5 million units by the first quarter of 2009.
Abramsky says Apple may see "initial speedbumps" in sales from underproduction and activation requirements but that likely will not deter buyers, and he continues to rate the Cupertino, Calif., company "Outperform."
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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