The iPhone, initially a sideline to Apple’s main Mac sales, could account for up to half of the Cupertino, Calif. firm’s revenue by 2011, according to an analyst. The company is on track to sell 45 to 50 million handsets next year, more than double the 20.7 million iPhones sold in fiscal 2009.
Toni Sacconaghi, analyst with Bernstein Research, in a note to investors, said the iPhone could become 45 percent to 50 percent of Apple’s revenue, up from 30 percent in 2009. The analyst forecasts iPhone sales will reach 40 million to 50 million units in fiscal 2011, a dramatic increase from 20.7 million sold in 2009. The company should report sales of 8.7 million for the first fiscal quarter of 2010, he adds.
Apple Chief Operating Officer Tim Cook recently told analysts he sees plenty of opportunity for growing the iPhone platform. “The platform (is getting) larger and larger, the ecosystem better and better, and there are more and more apps that people can’t live without,” he said.
Earlier this week, we reported on news Apple may be looking to use the iPhone OS in more devices, including the MacBook, Mac mini and Apple TV. The Cupertino, Calif. company is seeking an Engineering Manager to oversee including the “iPhone OS on new platforms.”
Sacconaghi also predicted Apple will sell 2.2 million iPads in 2010 and 6.8 percent for 2011. The figure is on par with a number of analyst forecasts. After an initial burst of exuberance, some analysts have trimmed their sales expectations for the new tablet device, citing a ‘reassessment‘ of Apple’s latest consumer gadget.
Earlier this month, Needham announced a forecast of 2 million tablet sales a year after it was introduced, down from an earlier prediction of 4 million. The analyst gave the iPad a cautious thumbs-up, telling investors it was “cautiously optimistic” of the device’s early success. Piper Jaffray analyst Gene Munster also declared “measured enthusiasm” for the iPad, expecting 4 million in first-year sales and by 2011 accounting for 7.5 percent of Apple revenue.
[Via Barron’s]
