RaduTyrsina
News Team
Analyst Keith Bachman from BMO Capital Markets company has high hopes for Apple in fiscal year 2015, as he maintained his "outperform" rating for shares of AAPL.
The analyst thinks Apple will manage to sell 189 million iPhone units in fiscal 2015 and he forecasts that the average selling price of the iPhone will increase to $637. He also sees the 4.7-inch iPhone 6 accounting for 70 to 75 percent of total sales of the latest generation of models.
Bachman has reduced his iPad estimates by 9.5 million units for fiscal 2015, to 58 million. He thinks that Apple's new, bigger iPhones will cannibalize some iPad sales. But that is actually a good thing for Apple, in his opinion:
"If Apple sells one iPhone and does not sell one iPad mini, Apple increases gross profit by about $200, all else equal"
Speaking about the forthcoming Apple Pay mobile payment service tied to the iPhone 6 and Apple Watch, Bachman says it won't have a significant effect as this is a breand new service and still needs time to get traction.
Bachman also forecasted that Apple will sell 12 million of the Apple Watch in fiscal 2015, which runs through the end of September.
Source: AppleInsider
