Piper Jaffray’s Gene Munster finally raised his estimate for Apple’s (AAPL) iPhone sales last quarter, following a trend to higher estimates, as he reiterates his estimation of Apple as the “Top Pick” for 2012.
Munster raised his iPhone number to 30 million from 26 million for fiscal Q1 ended in December. He reiterates an iPad unit estimate of 13.5 million. He sees Apple beating the Street at $40.2 billion in revenue and $10.50 in EPS, versus the consensus $38.6 billion and $9.95 per share.
Munster thinks if Apple sold 30 million units in December, with the same “form factor,” versus 17 million in the prior quarter, that means that an “iPhone 5,” when it comes out, presumably with a new industrial design, could be “a monster upgrade.”
Apple shares today are down $2.25, or half a percent, at $420.99.
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