Gene Munster Not Bullish on Prospects of 8GB iPhone 5c
This week, Apple released an 8GB version of its mid-tier iPhone 5C handset on the UK carrier, O2.
Ostensibly designed to help rope in prospective smartphone buyers on a budget, this latest offering from Apple has put the plastic-backed smartphone into the sub-$100 price range. But will it ultimately have much of am impact on Apple's bottom line? According to one well-known industry analyst and Apple watcher, it probably won't.
Piper Jaffray's Gene Munster, who is no stranger to being almost absurdly optimistic about the sales prospects of Apple devices and the growth potential of Apple stock, says the new iPhone release will be largely irrelevant for Apple's bottom line, at least during the next few quarters.
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The analyst concludes that Apple’s latest move to lower pricing won’t match the success it found during the June 2013 quarter when it dropped the price of the iPhone 4 by 15 percent in emerging markets. This allowed Cupertino to beat iPhone unit expectations by 18 percent during that quarter.
"Given that there are no meaningful changes to the company's product line-up or identifiable seasonal trends heading into June, we believe it is unlikely we see the significant acceleration the Street is currently expecting," Munster says.
Source: AppAdvice
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