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A Compelling Update
Piper Jaffray believes that global demand for the iPhone 5 will end up exceeding Wall Street's fourth-quarter unit shipment estimates when the new mobile device is finally released later this year.
Apple's iPhone 5 "is coming as a compelling update and the Street's 8 percent year-over-year unit growth estimate for the December 2012 quarter is likely too low," the firm's analysts wrote.
Apple's January 2012 launch for the iPhone 4S in China is expected to help pave the way for the launch of the iPhone 5 in the world's biggest handset market later this year. Piper Jaffray currently views 30 million iPhone 4S unit shipments on a global basis as the low end of what the industry can expect Apple to achieve in the quarter under way.
In the final quarter of 2011, iPhone revenues generated within the Americas made up 38 percent of Apple's total. However, the investment firm's analysts said they believe that the United States could make up less than 30 percent of units in this year's March-ending quarter "given the January China launch of iPhone 4S, which makes us comfortable with our 33 million estimate."