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Apple ( AAPL ) is expected to unveil a new 4-inch iPhone on Monday, but analysts have only “modest” expectations for the handset. In a research report Wednesday, RBC Capital Markets analyst Amit Daryanani said the new iPhone SE will be “an incremental positive” for Apple. He reiterated his outperform rating on Apple stock with a price target of 130. Apple stock was up 1.4%, above 106, in late-afternoon trading on the stock market today . The new small-screen phone will provide an upgrade opportunity for iPhone users who prefer a 4-inch display over the 4.7- and 5.5-inch displays on Apple’s flagship phones, Daryanani said. It will also give Apple a refreshed product at the low-end of the premium smartphone segment, he said. “The numbers (for iPhone SE unit sales) will be modest at about 10 million to 15 million annually, but importantly this should provide a buffer in the June and September quarters — the quieter period ahead of the iPhone 7 refresh,” Daryanani said. The iPhone SE will replace the iPhone 5S, which was released in September 2013. The new model is expected to sport an A9 chip, NFC technology to enable Apple Pay and a 12-megapixel, rear-facing camera. But it will not have a press-sensitive touchscreen like the flagship models, according to media reports. In a report Tuesday , S&P Capital IQ analyst Angelo Zino likewise estimated that Apple could sell an additional 10 million to 15 million iPhones, or around 5% of total unit volume, thanks to the new handset. In a research report Monday, Nomura analyst Jeffrey Kvaal said he too had “modest” expectations for the iPhone SE. “We do not expect huge unit volumes from iPhone SE — only in the range of 10 million to 20 million over the first year,” Kvaal said. “We believe this smaller and more affordable iPhone is designed to target emerging markets, as Apple looks to ensure a quality experience among the fast-growing emerging market users.” RELATED: Better Times For Apple Could Start With Spring Product Launch . Scalper1 News
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